XAU/USD trades below 1,900.00 - Technical Analysis - Dukascopy Bank

Wed, 14 Oct 2020 09:42:21 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs56%54%2.9%
Shorts44%46%-3.6%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellBuySell
Aggregate

On Tuesday, the XAU/USD exchange rate dropped to the 1,890.00 level. During today's morning, the rate reversed north.

It is likely that some downside potential could prevail in the market due to the resistance range formed by the 55-, 100– and 200-hour SMAs, as well the monthly PP in the 1,904.00/1,912.00 area.

In the meantime, if the 1,890.00 mark holds, it is likely that yellow metal could trade sideways against the US Dollar within the following trading session.


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