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XAU/USD two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs66%68%-2.8%
Shorts34%32%5.4%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)SellSellSell
Aggregate⇒⇓⇘

[ANNOUNCE]The yellow metal's price decreased by 134 pips or 0.75% on Tuesday. The decline was stopped by the 55– hour simple moving average at 1784.1 during Tuesday's trading session.[/ANNOUNCE]

Currently, the commodity is trading near the lower boundary of an ascending channel pattern and could be set for a breakout.

If the breakout occurs, a decline towards the 1765.00 area could be expected within this session.

However, if the channel pattern holds, buyers might pressure the XAU/USD exchange rate higher today.

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