USD Sentiment Bearish, XAUUSD Sentiment Turns Bearish Too

TradeProofer’s retail sentiment is sell the Greenback, sell gold. Both market bias’s seem to be correct at the moment, as multi-year highs on oil spur USDCAD downside, and gold has rebounded again out of a significant resistance.

USDCAD is back below the 1.2400 significant level, and has closed 4 weeks in a row bearish. It seems that selling the USD against the CAD is a fantastic trade at the moment!

USDCAD 1D Chart, 19 October, 2021.

XAUUSD has bounced out of the resistance trendline also, and now seems primed to trade to 1740 trendline support. Price is holding below the 50, 100, and 200 day moving averages which are in a bearish cross.

XAUUSD 1D Chart, 19 October, 2021.

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