Dukascopy - Analytics

    Dukascopy

    472.75 6.25/10
    83% of positive reviews
    Real

    XAU/USD unchanged above 1,200

    © Dukascopy Bank SA
    "Given the steepness of the rally this week in reaction to the (U.S. private hiring) numbers, job gains would likely have to be very disappointing to further boost bullion near term."
    - HSBC (based on CNBC)

    Pair's Outlook
    At market closing time on Thursday at 21:00 GMT, just before the Easter holidays started, the yellow metal posted no considerable movements in either direction. The bullion finished its trading week just above the weekly PP/round level at 1,202, thus registering only a minor decrease in price on a daily basis. The price of the metal remains capped both by 100-day SMA and four-week up-trend. However, judging from technical indicators, Gold can still be in a position to climb above this supply area, after trading resumes in the night between Sunday and Monday. 

    Traders' Sentiment
    Sentiment towards the precious metal is optimistic among SWFX traders as the total share of bullish positions (64%, no change since yesterday) has a strong advantage over the bearish ones at the moment.  

    © Dukascopy Bank SA

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