XAU/USD to test Fibo 23.60%

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs66%65%1.1%
Shorts34%35%-2.1%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)BuySellNeutral
SAR(0.02;0.2)BuySellBuy
Aggregate

The XAU/USD exchange rate has increased to the 1,845.00 mark.

It is likely that yellow metal could gain support from the 200-hour SMA near 1,835.00 and continue to trade upwards in the short run. The price for gold could target the 1,870.00/1,880.00 area.

Meanwhile, note that the exchange rate could face the resistance level—the Fibo 23.60% at 1,860.59. If the predetermined level holds, a reversal south could occur, and the rate could decline to the 55– and 100-hour SMAs near 1,820.00.

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