XAU/USD recovers from 1,215.00

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 48% 47% 2.08%
Shorts 52% 53% -1.92%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Neutral Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

Gold grew stronger against the US Dollar on Friday, being boosted by fundamental events. As a result, it returned in the breached senior channel and subsequently surpassed the 55– and 100-hour SMAs.  

It is likely that the yellow metal edges higher during the following hours, supported by the 100-hour SMA. This appreciation might not be long-lived due to the 55– and 100-period (4H) and the 200-hour ones located in the 1,240.00 area. This resistance cluster is expected to pressure the pair south down to the aforementioned 55– and 100-hour moving averages circa 1,225.00. 

In case 1,240.00 is breached to the upside, no resistance is apparent until 1,265.00.

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