23.12.2016

Technical analysis : Gold once more surges in early hours

by Dukascopy

Pair's Outlook

The yellow metal surged in the early hours of Friday's trading session. However, such a tendency has been seen throughout this week, as either scalpers take profit during the Asian session or there exists a negative sentiment on the US Dollar in Asia due to other fundamental reasons. Although, in the second half of the day of the GMT time zone the bullion steadily continues to fall. It is most likely that Friday's trading session will be no different from the few previous, as there are usually no gradual changed in finance in the period up to Christmas. 

Traders' Sentiment

Gold traders also have not changed their positions. 60% of SWFX traders remain long. Meanwhile, 58% of trader set up orders were set to buy the metal.

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