Gold Price Forecast: Decision Time Nears – Levels for XAU/USD
The narrative around gold prices may be shifting as delta variant concerns infect global financial markets.
Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Jun 30, 2021 when Wall Street traded near 34,570.80.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.
Oil Price Forecast: Oil Plunges into Critical Support- WTI Levels
Oil prices plummeted more than 13% off the July / yearly high with the sell-off now eyeing critical uptrend support. The levels that matter on the WTI technical chart.
AUD/JPY IG Client Sentiment: Our data shows traders are now net-long AUD/JPY for the first time since Jul 09, 2021 when AUD/JPY traded near 82.47.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bearish contrarian trading bias.
USD/CAD IG Client Sentiment: Our data shows traders are now at their least net-long USD/CAD since Jul 20 when USD/CAD traded near 1.35.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.
US Dollar Technical Outlook: 2021 High for DXY Coming into Focus
The DXY index is breaking higher out of a consolidation with the yearly high in focus as the next level of resistance.
GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Jul 09, 2021 13:00 GMT when GBP/JPY traded near 153.10.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bearish contrarian trading bias.
USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Oct 29, 2020 when USD/CAD traded near 1.33.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.
Germany 30 IG Client Sentiment: Our data shows traders are now net-long Germany 30 for the first time since Jul 09, 2021 when Germany 30 traded near 15,687.00.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 30-bearish contrarian trading bias.
Sterling Forecast: GBP/USD Coils at Support- Cable on Breakout Watch
A multi-week consolidation puts the July opening-range just above uptrend support- breakout imminent. Here are the levels that matter on the GBP/USD weekly technical.