Note: This section contains information in English only."If the (nonfarm payroll) data does come in better than market expectations, it will drag gold prices further."
- Barnabas Gan, OCBC (based on Reuters)
Pair's Outlook
[ANNOUNCE]During the early hours of Thursday's trading session the yellow metal's price slipped even further lower, as the price reached below the 1,205 level.[/ANNOUNCE] However, the bullion managed to find support in a speculative and before the recent moves unconfirmed long term lower trend line of a large scale ascending channel pattern. Due to that reason traders should look at whether a proper rebound occurs, as from the upside there is a strong resistance cluster, which could keep the commodity price lower in the future sessions.
Traders' Sentiment
SWFX traders are neutral at the moment, as 50% of open positions are long. Although, 65% of trader set up orders are set to buy the bullion, and such a high level has not been seen for more than two months.
Thu, 09 Mar 2017 08:35:50 GMT
Source: Dukascopy Bank SA
- Barnabas Gan, OCBC (based on Reuters)
Pair's Outlook
[ANNOUNCE]During the early hours of Thursday's trading session the yellow metal's price slipped even further lower, as the price reached below the 1,205 level.[/ANNOUNCE] However, the bullion managed to find support in a speculative and before the recent moves unconfirmed long term lower trend line of a large scale ascending channel pattern. Due to that reason traders should look at whether a proper rebound occurs, as from the upside there is a strong resistance cluster, which could keep the commodity price lower in the future sessions.
Traders' Sentiment
SWFX traders are neutral at the moment, as 50% of open positions are long. Although, 65% of trader set up orders are set to buy the bullion, and such a high level has not been seen for more than two months.