XAU/USD revealed falling wedge pattern - Technical Analysis - Dukascopy Bank

Thu, 28 Jan 2021 11:22:16 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs58%58%0.7%
Shorts42%42%-0.9%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellSellBuy
Aggregate

The XAU/USD exchange rate has revealed a falling wedge pattern.

From a theoretical perspective, it is likely that the rate could continue to follow the predetermined pattern within the following trading session.

In the meantime, note that yellow metal is pressured by the 55-, 100– and 200-hour SMAs in the 1,850.00 area. Thus, a breakout south could occur, and the price for gold target the 1,825.00 mark.


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