XAU/USD remains bullish

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Outlook
The uptrend, which started yesterday, successfully managed to continue, and today the XAU/USD exchange rate experienced a significant bullish advance, which has already managed to overcome the upper Bollinger band at 1733, ad now the price is gradually heading towards the weekly R3 at 1752, which might slow down the uptrend. In case it is broken, then the exchange rate is likely to advance even further until the monthly R2 at 1764, which is expected to bring some bearish momentum. Additionally, the overall indicator outlook is positive, thus supporting the prevailing bullish tendency.

Traders' sentiment
SWFX market participants are optimistic regarding the XAU/USD exchange rate, as 74% of traders hold bullish positions and only 26% of traders hold bearish positions. The distribution of orders is quite similar, since more than 82% of traders ordered to buy and only almost 18% ordered to sell gold.
© Dukascopy Bank SA
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Actual Topics

Mon, 10 Sep 2012 07:21:15 GMT

EUR/USD bumps into 1.2806/08

Resistance at 1.2806/08 stopped advancement of the currency pair, which is likely to consolidate before attempting to continue its upward movement. Subsequent levels are at 1.2864/1.2907 and 1.2953, but eventually should give in case bullish momentum proves to be preserved. In the meantime, dips are to be contained by supports at 1.2765 and 1.2704.

Fri, 07 Sep 2012 20:42:33 GMT

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