XAU/USD likely to trade downwards

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs65%63%2.7%
Shorts35%37%-5.1%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellBuyBuy
Aggregate

The XAU/USD exchange rate has declined to the 1,815.00 level.

Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,830.10/1,835.90 range, it is likely that some downside potential could continue to prevail in the market.

In the meantime, it is unlikely that bulls could prevail in the market, and the price for gold could exceed the resistance level—the Fibo 23.60% at 1,860.59 in the short term.

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