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.

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
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Gold Forecast Once Again Points to Losses

Gold Forecast Once Again Points to Losses

2017-03-01 22:10:00
David Rodriguez, Head of Product
Share:
Gold Forecast Once Again Points to Losses

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 1.21 as 55% of traders are long. Yesterday the ratio was -1.07; 48% of open positions were long. Long positions are 8.7% higher than yesterday and 1.5% below levels seen last week. Short positions are 15.9% lower than yesterday and 2.4% below levels seen last week. Open interest is 4.0% lower than yesterday and 5.8% below 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 flipped from net-short to net-long from yesterday but unchanged since 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