XAU/USD pressured by moving averages - Technical Analysis - Dukascopy Bank

Thu, 25 Feb 2021 10:50:31 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs69%69%-0.1%
Shorts31%31%0.3%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

Yesterday, the XAU/USD exchange rate touched the 1,785.00 mark.

Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,797.40/1,804.20 range. Thus, some downside potential could prevail in the market.

In the meantime, if the 1,785.00 mark holds, the price for gold could reverse north and target the upper line of the falling wedge pattern located circa the 1,815.00 level.


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