XAU/USD tumbled to 1,860.00 - Technical Analysis - Dukascopy Bank

Tue, 10 Nov 2020 11:03:45 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs59%55%6.8%
Shorts41%45%-9.6%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate

Yesterday, the XAU/USD exchange rate tumbled to the 1,860.00 level. During Tuesday morning, the rate reversed north.

Given that yellow metal is pressured by the 55-, 100– and 200-hour SMAs in the 1,901.50/1,921.50 area, it is likely that some downside potential could prevail in the market in the short term.

On the other hand, bulls could prevail in the market, and the exchange rate could try to exceed the predetermined resistance area within the following trading session.


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