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Gold Price versus US Dollar Likely to Continue Lower

Gold Price versus US Dollar Likely to Continue Lower

David Rodriguez, Head of Product

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Why and how do we use the SSI in trading? View our video and download the free indicator here

Gold– Heavily one-sided retail forex trader sentiment warns that Gold prices may continue to decline through near-term trading. Our trading sample shows that total open long positions outnumber those short by nearly 3 to 1, and until we see a meaningful shift in sentiment we will maintain our contrarian calls for further XAU/USD weakness.

See next currency section: EURUSD - Euro Remains a Sell as Trading Crowds Buy

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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