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"Since last Friday's strong U.S. non-farm payroll data, world markets have been driven by expectations of an early start to the Fed's rate hike program."
- CMC Markets (based on Bloomberg)
Pair's Outlook
The longest streak of losses for Gold in 17 years was set on March 12, 2015. Yesterday, the bullion failed to recover, even though the spot was growing above 1,165 at some points of time. However, bearish pressure outweighed bullish intentions for a rise and even gave the yellow metal a slight decrease down to 1,154. Nevertheless, in the early morning of Friday the precious metal is making a second attempt to jump. Bullish development is still more preferable today, given there is a strong demand zone around 1,145 (weekly S1; Bollinger band).
Traders' Sentiment
Sentiment toward the precious metal is optimistic among SWFX traders as the total share of bullish positions (68%, no change from yesterday) has a strong advantage over the bearish ones at the moment.
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