XAU/USD could trade downwards - Technical Analysis - Dukascopy Bank

Mon, 15 Feb 2021 10:36:49 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs64%65%-1.8%
Shorts36%35%3.3%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellBuyBuy
Aggregate

Since Friday, the XAU/USD exchange rate has been testing the psychological level at 1,815.00.

Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,830.00 area, it is likely that some downside potential could prevail in the market in the short term.

In the meantime, it is unlikely that bulls could prevail in the market, and the price for gold could exceed the psychological level at 1,845.00 within the following trading session.


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