XAU/USD squeezed by moving averages

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs60%60%-0.5%
Shorts40%40%0.8%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

On Tuesday, the XAU/USD exchange rate tested the upper boundary of the short-term descending channel at 1.462.89. During today's morning, the rate was trading near the given line.

From a theoretical point of view, it is likely that a reversal south could occur in the nearest future. In this case, the price for gold could decline to the psychological level at 1,454.00.

However, note that yellow metal is supported by the 55-hou moving average at 1,458.15. Thus, a breakout north could in the nearest future. In this case, the rate could reach the 200-hour SMA at 1,465.87.

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