XAU/USD could increase in short run

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs68%68%-0.4%
Shorts32%32%0.8%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellSellSell
Aggregate

Since Wednesday, the XAU/USD exchange rate has been consolidating in the 1,810.00 area.

It is likely that yellow metal could gain support from the 55-hour SMA near 1,812.00. Thus, some upside potential could prevail in the market in the nearest future.

In the meantime, note that the exchange rate could face the resistance provided by the 100-hour SMA near 1,835.00. If the given resistance holds, a reversal south could follow.

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