XAU/USD trades around 1,268.00

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

Positions Today Yesterday % Change
Longs 58% 58% 0.00%
Shorts 42% 42% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The whole previous trading session the exchange rate spent exactly as expected.  

First, the yellow metal continued to advance against the buck in a minor rising wedge pattern that has formed at the intersection of two junior ascending channels. 

Second, it surged to the 38.2% Fibonacci retracement level located at 1,268.00 and then pulled back to the weekly R1. 

Today the rate is expected resume the upward movement using the support provided by 55-hour SMA that lies along the lower trend line of the pattern. 

However, by the end of the day the pattern most probably will be dissolved. In this respect, a resistance zone located around the 1,269.00 level as well as the upcoming release of the US Final GDP data suggests that the breakout will happen to southern direction.

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