XAU/USD breaks pattern - Technical Analysis - Dukascopy Bank
Fri, 30 Apr 2021 05:57:08 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
61%
61%
1.2%
Shorts
39%
39%
-1.9%
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)
Buy
Buy
Sell
Aggregate
⇒
⇗
⇓
On Thursday, the XAU/USD exchange rate plunged by 312 pips or 1.74%. A breakout occurred through the lower boundary of an ascending channel pattern during Thursday's trading session.
Given that a breakout has occurred, the commodity is likely to continue to edge lower during the following trading session. The possible target for sellers could be near yesterday's low at 1755.00.
However, technical indicators suggest on the daily time-frame chart that the precious metal could gain strength against the US Dollar within this session.
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