XAU/USD continues to consolidate - Technical Analysis - Dukascopy Bank

Thu, 12 Nov 2020 11:22:54 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs63%59%6.9%
Shorts37%41%-11.7%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate

Yesterday, the XAU/USD exchange rate continued to trade sideways in the 1,860.00/1,890.00 area.

Given that yellow metal is pressured by the 55-, 100– and 200-hour SMAs in the 1,874.00/1,901.00 range, it is likely that some downside potential could prevail in the market in the short run.

On the other hand, if the predetermined area holds, yellow metal could continue to trade sideways against the US Dollar within the following trading session.


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