XAU/USD consolidates at 1,930.00 area - Technical Analysis - Dukascopy Bank

Thu, 13 Aug 2020 10:12:58 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs46%43%6.6%
Shorts54%57%-5.5%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

Yesterday, the XAU/USD exchange rate consolidated around the 1,930.00 level. During Thursday morning, the rate maintained its consolidation.

Given that yellow metal is pressured by the 55-hour moving average near 1,940.00, it is likely that some downside potential could prevail in the market. In this case the rate could decline to the 1,860.00 level.

In the meantime, it is likely that the exchange rate could gain support from the monthly PP at 1,907.07. If the given level holds, it is likely that gold could consolidate against the Greenback.


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