XAU/USD trades at 1,222.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 75% 74% 1.33%
Shorts 25% 26% -4.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Sell Buy Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

During Monday's trading session, the yellow metal was resisted by the 55-hour SMA to pass through the rest of the SMAs to end the trading day at 1,226.60. On Tuesday morning, the gold was trading below the monthly R2 at the 1,224.25 mark. 

In regards to the near-term future, most likely, the gold will keep moving downside towards the monthly R1 at 1,209.98 due to the resistances of the most technical indicators.  

However, the US Dollar could depreciate against the yellow metal during today's US CB Consumer Confidence data release at 14:00 GMT. The fundamental news could force the gold to break the resistance of the monthly R2 at 1,227.33.

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