XAU/USD revealed short-term ascending channel

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs55%56%-1.5%
Shorts45%44%1.9%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuySellBuy
SAR(0.02;0.2)BuySellSell
Aggregate

The XAU/USD exchange rate has revealed a short-term ascending channel.

From a theoretical point of view, it is likely that the exchange rate could re-test the lower channel line located in the 1,895.00/1,900.00 range. If the given channel holds, a reversal north could follow.

However, if the predetermined channel does not hold, a breakout south could occur, and the price for gold could decline to the 200-hour moving average located near 1,885.50.

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