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Gold Price Tumbles Point to Broader US Dollar Reversal

Gold Price Tumbles Point to Broader US Dollar Reversal

2014-03-27 14:10:00
David Rodriguez, Head of Product
ssi_GOLD_body_Picture_17.png, Gold Price Tumbles Point to Broader US Dollar Reversal

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GOLDGold prices continue to hit fresh lows, and clearly one-sided retail forex trader sentiment leaves us in favor of further weakness.

Trade Implications GOLDThe majority of retail traders turned long Gold as it set an important top near the $1390 mark, and indeed we’ve subsequently argued for further weakness as the shift in sentiment coincided with an important cyclical turn window.

In fact our Senior Strategist sees evidence that continued Gold price weakness may actually point to a much larger US Dollar reversal.

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

ssi_GOLD_body_Picture_10.png, Gold Price Tumbles Point to Broader US Dollar Reversal

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