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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
Gold Price versus US Dollar Likely to Continue Lower

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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