XAU/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Wed, 28 Apr 2021 06:09:50 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
60%
59%
0.8%
Shorts
40%
41%
-1.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Sell
Buy
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇗
⇓
On Tuesday, the precious metal gold declined by 95 pips or 0.54% against the US Dollar. The commodity breached the 55– and 200– hour SMAs during yesterday's trading session.
The exchange rate is currently trading near the lower line of a descending channel pattern and could be set for a breakout.
If the channel pattern holds, buyers could pressure the XAU/USD pair higher within this session.
However, if the currency exchange rate breaks the descending channel pattern, bearish traders are likely to target the 1760.00 level within this session.
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