XAU/USD fluctuates in wider range

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

Positions Today Yesterday % Change
Longs 47% 49% -4.26%
Shorts 53% 51% 3.77%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Following a minor period of consolidation during the first half of Tuesday, the bearish sentiment prevailed in the market and thus sent Gold down to the 1,332.00 area. Subsequently, the rate returned for a re-test of its four-month high of 1.344.03, but fell lower once again. 

These increasing fluctuations demonstrate that Dollar bulls might have finally increased in strength. However, no massive declines are expected today, as the pair should still be tended slightly upwards. At the time of the analysis, Gold was constrained by the 55– and 100-hour SMAs. Technical indicators suggest that the southern barrier should hold strong. 

Meanwhile, the nearest upside target is the aforementioned 1.344.03 mark, while the ultimate upside target for today should be the weekly R1 at 1,348.83.

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