News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • RT @FxWestwater: Asia AM Brief: Australian Dollar Forecast: $AUDUSD May Move on #RBA, Covid, China, US NFPs Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/08/05/Australian-Dollar-Forecast-AUDUSD-May-Move-on-RBA-Covid-China-US-NFPs.html…
  • RBA's Lowe: Now plausible scenarios for rate-hike in 3-year horizon, vaccine program gives a pathway out this year. Pickup in inflation, wages likely to be gradual -BBG
  • RBA's Lowe: Prepared to act in response to further bad news on health, bounce-back likely to start well before end of year -BBG
  • RBA's Lowe: Fiscal policy better tool for temporary hit to income, GDP 3Q decline depends on length of Delta lockdowns -BBG
  • RBA's Lowe: Some increase in unemployment expected over months ahead, significant parts of economy still on positive trajectory -BBG
  • RBA Governor Philip Lowe: Outbreaks mean GDP likely to decline in September quarter, doesn't expect to raise cash rate before 2024 -BBG #AUD #RBA
  • 🇯🇵 Household Spending YoY (JUN) Actual: -5.1% Expected: 0.1% Previous: 11.6% https://www.dailyfx.com/economic-calendar#2021-08-05
  • The Japanese Yen could rise against the US Dollar and Australian Dollar as retail investors increase upside exposure in USD/JPY and AUD/JPY. What are key technical levels to watch? Get your market update from @ddubrovskyFX here:https://t.co/tZDMOGf8JI https://t.co/R4rj24xxM2
  • Heads Up:🇯🇵 Household Spending YoY (JUN) due at 23:30 GMT (15min) Expected: 0.1% Previous: 11.6% https://www.dailyfx.com/economic-calendar#2021-08-05
  • Heads Up:🇦🇺 RBA Gov Lowe Speech due at 23:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-08-05
Gold Prices Likely to Fall Further Until this Changes

Gold Prices Likely to Fall Further Until this Changes

David Rodriguez, Head of Product
Gold Prices Likely to Fall Further Until this Changes

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

Gold– Aggressively one-sided retail forex trader positioning warns that Gold prices may continue to decline through near-term price action. Our data shows that total open long positions in XAU/USD outnumber those short by approximately 2 to 1—the largest extreme since Gold prices set a key low near $1100.

It is possible that such one-sided positioning warns of a similar sentiment extreme and a potential short-term low, but such extremes are only clear in hindsight. Until we see a substantive shift in trader sentiment we’ll remain in favor of selling into XAU/USD weakness.

See next currency section: EURUSD - Forex Sentiment Data Shows that Euro Remains a Sell

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

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

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

DISCLOSURES