XAU/USD will be traded horizontally

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 74% 74% 0.00%
Shorts 26% 26% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The gold price depreciated 0.19% since Monday's trading session. The XAU/USD passed through the monthly pivot point at 1,196.00 at 07:00 GMT this morning. 

It is expected that the yellow metal will be traded horizontally among the monthly PP at the 1,196.00 mark and the lower trend lines of the descending and ascending patterns during the next couple of trading days. 

Eventually, the price should get squeezed between the lower trend line of the larger pattern and the pivot point and break out. Watch for that moment.

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