Although the situation on the gold charts is being reviewed every day by the Dukascopy research team, some new developments have pressed for a review of the drawn trend line. Most recently the currency exchange rate reached the lower trend line of a possible large scale ascending channel. That occurred in the borders of two descending channel patterns, where one of them is a junior representation of a bounce off within the borders of the dominant channel. Moreover, the 38.20% Fibonacci retracement level of the 2016 high and 2016 December low levels provides support. The situation is complex, and markets are awaiting for the outcome. It is likely that a decline in accordance with the medium channel will occur.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1,258/59 | Weekly R1; 100 and 200-period SMAs | MACD (12; 26; 9) | Sell | Sell | Buy | ||
| R3 | 1,249 | 50.00% Fibo | RSI (14) | Neutral | Buy | Neutral | ||
| R2 | 1,242/44 | Trend; weekly PP; monthly S1; 55 SMA | Stochastic (5; 3; 3) | Sell | Neutral | Sell | ||
| R1 | 1,224 | Trend line | ADX (14) | Sell | Sell | Neutral | ||
| S1 | 1,222 | Trend line | CCI (14) | Neutral | Buy | Neutral | ||
| S2 | 1,219/18 | 38.20% Fibo; monthly S2 | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1,212/11 | Weekly S2; trend line | Alligator (13; 8; 5) | Sell | Sell | Buy | ||
| S4 | 1,202 | Trend line | SAR (0.02; 0.2) | Sell | Sell | Buy | ||
| Aggregate | ↘ | → | ↗ |