Gold reaches possible long term trend line

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"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 
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. 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.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
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.