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
Gold Price Forecast to Fall even Further

Gold Price Forecast to Fall even Further

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

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

XAUUSD - The ratio of long to short positions in the XAUUSD stands at 3.87 as 79% of traders are long. Yesterday the ratio was 3.41; 77% of open positions were long. Long positions are 7.2% higher than yesterday and 8.5% above levels seen last week. Short positions are 5.7% lower than yesterday and 7.6% below levels seen last week. Open interest is 4.3% higher than yesterday and 11.3% above its monthly average.

We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the XAUUSD may continue lower. The trading crowd has grown further net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further bearish trading bias.

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

DISCLOSURES