XAU/USD new pattern gets broken

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 60% 61% -1.67%
Shorts 40% 39% 2.50%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Buy Neutral
Stochastic (5; 3; 3) Neutral Buy Buy
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The recently, experimentally drawn pattern on the yellow metal's charts has been broken. However, note that this provides an opportunity for more charting.

First of all, if one looks at the recent almost horizontal decline, it can be spotted that there exists a short term descending pattern. Due to that reason it can be deducted that the previous pattern represented the previous junior move.

By using these facts one can draw a speculative medium scale ascending pattern, which the previous charts lacked. This chart combined with the close by simple moving averages can be used for guidance.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.