XAU/USD breakout could occur - Technical Analysis - Dukascopy Bank
Mon, 26 Apr 2021 05:30:00 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
60%
59%
1.9%
Shorts
40%
42%
-2.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Neutral
Buy
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇗
⇓
On April 23, the precious metal Gold dropped by 247 pips or 1.38% against the US Dollar. The commodity breached the 55– and 100– hour SMAs during Friday's trading session.
The XAU/USD exchange rate is likely to continue to edge lower during the following trading session. A breakout through the lower boundary of an ascending channel pattern could occur.
However, if the channel pattern holds, buyers could drive the exchange rate higher today.
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