XAU/USD retreats back to 1,200

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 74% 75% -1.35%
Shorts 26% 25% 3.85%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The gold price has decreased to the 1,200.00 mark on Wednesday morning. The price decrease occurred due to Tuesday's s price drop of 1.07% due to the US and Mexico making a trade agreement, which strengthened the US Dollar. 

The 55-hour SMA passed the rate during Tuesday's session and took a role of resistance for the rate. The 100-hour SMA is playing support. The rate is located among the 55—hour and the 100-hour SMA's during Wednesday session. It is expected that the 55– hour and the 100-hour SMA's will squeeze the pathway which will force the rate to breakout upwards or downwards. 

The XAU/USD is been going up for the couple of weeks now. It is expected that the price surge will continue if the fundamental news will not break the pattern.

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