Gold Prices May Rally Further off of Lows

By DailyFx | June 12, 2014 AAA

DailyFX.com - Gold Prices May Rally Further off of Lows

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

GOLD Retail forex traders remain heavily long Gold versus the US Dollar, but a recent shift towards selling suggests that the precious metal could soon turn higher.

Trade Implications GOLD Our Senior Strategist notes that Gold is at a potential crossroads as it enters a key cyclical turn window, and a close above $1286 would leave us focused on further gains. It enters the potential crossroads with retail short interest in XAUUSD up a noteworthy 34 percent on the week. A break higher in price alongside further retail crowd selling would help confirm an important Gold price low.

See next currency section: EURJPY - Euro at Critical Turning Point versus Japanese Yen

comments powered by Disqus
Related Forex Analysis
  1. USD/JPY crashes below 106.50, more downside in store
    Forex News

    USD/JPY crashes below 106.50, more downside in store

  2. Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude
    Forex News

    Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude

  3. EUR/USD bulls wake up and drive pair above 1.2800
    Forex News

    EUR/USD bulls wake up and drive pair above 1.2800

  4. Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?
    Forex News

    Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?

  5. AUD/USD Range Endures With Clearer Cues From Candlesticks Desired
    Forex News

    AUD/USD Range Endures With Clearer Cues From Candlesticks Desired

Trading Center