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– Goldman Sachs (based on Bloomberg)
Pair's Outlook
The yellow metal continued its way down on Thursday, as if there are no support levels, which could affect it. However, that is now almost the truth, as the only significant level of support left is the third monthly support at 1,244.01. The metal's fall has been so drastic, that almost all patterns have been broken and analysts are concentrating more on the fundamentals. However, the 1,250 mark provides a psychological level of significance, and it might stop the drop, as it already did manage to slow it down during Thursday's trading session.
Traders' Sentiment
SWFX trader sentiment has remained unchanged since yesterday, as 55% of open positions are long. In the meantime, pending commands are identical to open positions, namely 55% of them are to buy.
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