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Gold Price Forecast to Fall Further versus Dollar

Gold Price Forecast to Fall Further versus Dollar

David Rodriguez, Head of Product
Gold Price Forecast to Fall Further versus Dollar

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

Gold– Retail forex traders remain aggressively long Gold versus the US Dollar, and a contrarian view of crowd sentiment warns of further near-term weakness. Indeed our data shows that total long positions in XAU/USD outnumber those short by a notable 2.8 to 1. Until we see a pronounced shift we will maintain our calls for continued Gold price declines.

See next currency section:EURUSD - Euro Forecast Turns Bearish as 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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