XAU/USD moves horizontally

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

Positions Today Yesterday % Change
Longs 49% 49% 0.00%
Shorts 51% 51% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

In accordance with expectations, previous trading session the exchange rate spent in a horizontal movement.  

From the north it was obstructed by resistance zone located between the 1,321.00 and 1,322.00 marks, while from the south it was pressured by the weekly PP and the 100-hour SMA. 

As economic calendar remains empty, such flat movement might continue for another two days. In the end bulls might try to push the rate to the upper trend-line of a dominant descending channel. 

Nevertheless, in daily perspective the same pattern clearly points out on imminence of beginning of a downward movement. The bearish stance on the gold additionally supports this assumption.

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