XAU/USD drops below weekly S1 at 1762

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Outlook
The downtrend, which started almost a week ago, successfully managed to continue, as today the XAU/USD exchange rate experienced another movement downwards, and now the price is moving towards the lower Bollinger band at 1748, which is expected to reverse the current tendency. If it is broken, then the exchange rate is likely to reach the weekly S3 at 1730, which will probably stop the prevailing bearish trend. Additionally, RSI indicator still is neutral, but the overall indicator outlook remains positive.

Traders' sentiment
Traders at SWFX market are optimistic regarding the XAU/USD exchange rate, since 59% of traders hold long positions and 41% of traders hold short positions. The situation with orders spots strong bullish tendency expectations, as 77% of traders ordered to buy and only 23% ordered to sell gold.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 11 Oct 2012 06:54:38 GMT

EUR/USD hangs above 1.2856/26

Buying pressure at 1.2856/26 in conjunction with support at 1.2796/82 is keeping the pair from declining. As long as they stay intact, positive bias will be preserved. Otherwise, levels at 1.2717/1.2697 and 1.2589/59 will come under threat. EUR/USD is expected to lift from 1.2856/26, climb over some of the obstacles overhead, such as 1.2930/63 and 1.3063, and reach 1.3327—a major

Wed, 10 Oct 2012 15:46:28 GMT

GBP/JPY advances higher

Today GBP/JPY advanced even higher, and at the particular moment the currency couple confronts the weekly S1 at 125.73, which is expected to stop the current movement. In case it is breached, then the price might advance even higher and reach the 200-day SMA, which in turn is very likely to bring some bearish impetus. Moreover, RSI indicator shows a

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.