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XAU/USD revealed rising wedge pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs39%37%3.8%
Shorts62%63%-2.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate⇗⇒⇒
[ANNOUNCE]

Last week, the XAU/USD exchange rate revealed a rising wedge pattern. During Monday, the rate was trading at 1,775.00.

[/ANNOUNCE]

It is likely that some upside potential could prevail in the market, as yellow metal could gain support from the 55-, 100– and 200-hour SMAs in the 1,770.00/1,775.00 area. In this case the rate could target the 1,785.00/1,790.00 area.

Meanwhile, if the exchange rate fails to exceed the psychological level at 1,780.00, it is likely that gold could consolidate against the US Dollar in the short run.

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