Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
GOLD – Forex trading crowds are near their most long Gold versus the US Dollar since it set an important low through March. A contrarian view of crowd sentiment favors further breakdowns.
Trade Implications GOLD – Gold failed to capitalize on early signs of a potential reversal higher, and one-sided crowd sentiment leaves us steadily in favor of further weakness. Our Senior Strategist writes that continued consolidation at these levels points to a major Gold price move through the coming days.
See next currency section: EURJPY - Further Euro Weakness Likely versus Yen
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX