XAU/USD experiences bullish correction

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Outlook
Today the XAU/USD exchange rate experienced a slight bullish correction, which managed to stop the interim downtrend. As for now, the exchange rate is slowly approaching the weekly PP at 1728, which might bring some bearish impetus. In case it fails to slow down the rally, then the price is very likely to reach the 55-day SMA at 1736, which in turn will probably stop the prevailing movement upwards. Moreover, the overall indicator outlook is neutral, and it is not expected to change in the nearest future.

Traders' sentiment
SWFX market participants maintain optimism regarding the XAU/USD exchange rate, since 74% of traders hold long positions and  26% of traders hold short positions. The situation with orders is very similar, as 78% of traders ordered to buy and 22% ordered to sell gold.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 25 Oct 2012 14:53:22 GMT

EUR/JPY sets eyes on 104.55

Pair has been appreciating ever since unsuccessful attempt to fall below 103.13/103 area. At the moment it seems it is preparing  for one more attempt to advance above 104.55. Although technical indicators suggest pair might succeed this time it should not stay above the mentioned level for long  as Bollinger band is likely to stop pairs advance. 

Thu, 25 Oct 2012 15:04:52 GMT

GBP/JPY gains bullish impulse

The bullish trend, which started yesterday, successfully managed to continue, as today GBP/JPY experienced another significant bullish advance. As for now the currency pair is about to test the weekly R2 at 129.53, which might bring some bearish momentum. In case it is broken, then the currency couple might reach the weekly R3 at 130.85, which is very likely to

Subscribe to "Fundamental Analysis" feed

Souscrire
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.