XAU/USD skyrocketed to 1,505.00

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs46%48%-5.7%
Shorts54%52%4.9%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuySellBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

On Thursday, the XAU/USD exchange rate skyrocketed to the psychological level at 1,500.00. During today's morning, the rate reached the 1,505.00 mark.

On the one hand, yellow metal could continue to extend gains against the US Dollar within the following trading session. In this case the exchange rate could target the 1,510.00/1,515.00 range.

On the other hand, gold could consolidate against the US Dollar at the 1,505.00 mark in the nearest future. Also, it is unlikely that bears could prevail in the market, and the price for gold could drop lower than the monthly PP at 1,498.29.

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