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

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs46%46%-1.2%
Shorts54%54%1.0%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralSellNeutral
Stochastic(5;3;3)NeutralSellSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇒⇗

[ANNOUNCE] On Tuesday, the XAU/USD exchange rate reversed south from the upper boundary of the long-term ascending channel at the 1,433.82 mark. During today's morning, the rate was testing the support level formed by the 100-hour SMA at 1,405.76. [/ANNOUNCE] 

If the given moving average holds, it is likely, that gold could make the U-turn and continue to appreciate against the US Dollar. In this case, the rate could re-test the given channel. 

However, note, that the price for gold is pressured by the 55-hour SMA at 1,417.37. Thus, the rate could trade sideways between the given moving averages in the nearest future.

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