XAU/USD: two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs41%41%0.8%
Shorts59%59%-0.6%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)SellSellNeutral
Stochastic(5;3;3)SellNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Yesterday, the XAU/USD exchange rate skyrocketed and surpassed the 1,345.00 level. During today's morning, the rate reached the psychological level at 1,355.00.  

From the one hand, the price for gold could continue to increase. However, note, that the rate has to surpass the resistance level formed by the monthly R3 at 1,360.33. 

On the other hand, gold could trade sideways around the given psychological level. Also, it is unlikely, that the price for gold could go downwards, as it is supported by the 55-, 100– and 200-hour SMAs.

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