XAU/USD pressured by 55–hour and 100-hour SMAs

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs43%42%3.8%
Shorts57%58%-2.9%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuySellSell
Aggregate⇒⇘⇒

[ANNOUNCE] On Thursday, gold tested the lower boundary of the descending triangle pattern at 1,282.56. [/ANNOUNCE] 

Given that the price for gold is pressured by the 55– and 100-hour SMAs, it is likely that the XAU/USD exchange rate trades down and re-tests the lower pattern line. 

If the given resistance does not hold, it is expected that the rate extends gains and reaches the psychological level at 1,294.00.

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