XAU/USD ends Monday's trading at 1,314

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Price action from Brexit up to now has formed a head and shoulders, and the neckline is being tested for the third time."  
– based on investing.com 


Pair's Outlook 
The yellow metal moved lower on Monday, as it was volatile around the 1,315 mark during the day and ended day's trading session at 1,314.29. However, on Tuesday morning the metal regained some of its previous losses, as the commodity had surged to 1,319.15 by 5:00 GMT and had tested the resistance cluster located from the upside, which is made up from the weekly PP at 1,323.60 and 20-day SMA at 1,324.13. However, daily aggregate technical indicators forecast no change for the bullion today. 

Traders' Sentiment 
SWFX trader sentiment came out of the neutral zone, and it became slightly bullish, as 51% of open positions were long on Tuesday morning. In the meantime, pending orders in the 100-pip range were 66% long.
© Dukascopy Bank SA

Actual Topics

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.