‘Investors around the world are seeking safe havens ahead of tomorrow’s Non-Farm payrolls and into next week’s U.K. elections which have gone from a one horse race to an emotionally close one if you believe the polls.’ – Market Pulse (based on Investing.com)
Pair’s Outlook
The yellow metal has started this trading session with slight losses against the US Dollar. The pair is kept between the weekly R1 and the weekly PP at 1,275.49 and 1,261.80, respectively, leaving enough potential to trade either way. Contrary to the bearish momentum in the morning, the base scenario favours the pair trading higher, aiming fort the 1,275.49 mark. This assumption is likewise confirmed by bullish technical indicators. Nevertheless, it is not expected that the rate manages to push above this the weekly PP.
Traders’ Sentiment
SWFX traders have increased their bullish sentiment, as 52% of open positions are long. In addition, 58% of set up orders are to buy the metal—a slight decrease from 59% on Wednesday.
