© Dukascopy Bank SA
The most traded precious metal is likely to prolong its winning streak in the hours to come given that more than 72% of market participants at the SWFX bet on appreciation of the metal. If these expectations come true, XAU/USD may breach the level of 1,314.57/8.04 (four-hour R1, R2; daily R1; pattern's resistance), above which a sharp rally is likely to take place.
© Dukascopy Bank SA