Trade Pattern Ideas

Trade Pattern Ideas

XAU/USD 1H Chart: Channel Up
Mon, 17 Jul 2017 11:34:03 GMT
Source: Dukascopy Bank SA

Indicator 1H 4H 1D
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Buy
Aggregate โ‡’ โ‡’ โ‡˜

Due to the recent release of the US Consumer Price Index data sets the US Dollar suddenly lost strength, which in turn caused a jump of the price of the yellow metal. That event has pressed for a review of the technical situation on the bullions charts. The commodity price remains in an ascending channel pattern on the smaller timeframe. Meanwhile, the pair has just broken the medium scale descending channel. Due to that reason the formation of a new pattern could be expected. The new pattern is highly likely going to be an ascending one, which means that more future gains are possible for the metal's price.

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