Dukascopy - Analytics

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    XAU/USD remains calm around 1,200

    © Dukascopy Bank SA
    "Job growth is strong, but slowing from the torrid pace of recent months."
    - Moody's Analytics (based on Reuters)

    Pair's Outlook
    XAU/USD cross showed no significant changes in course of the previous trading day as it remained hovering just around the major level of 1,200. The closest resistance and support are located at 1,207 and 1,195, respectively and provide two boundaries for Gold in a rather wide trading range. Therefore, without impetus a move beyond any of these lines will be difficult to achieve. According to technical studies on a daily chart, a decline is more likely than an advance today, even though on a weekly basis an increase in the bullion's value is still more preferable. 

    Traders' Sentiment
    Sentiment toward the precious metal is remaining optimistic among SWFX traders, even though a total share of bullish positions (55%) is not as high as several days before and has no changes from yesterday.  

    © Dukascopy Bank SA

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