XAU/USD concentrates in symmetrical triangle

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

Positions Today Yesterday % Change
Longs 45% 45% 0.00%
Shorts 55% 55% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Buy Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The way the bullion is moving against the buck, basically, repeats the path of the Euro, as majority of traders prepare for a speech that will be delivered by Janet Yellen at 16:00 GMT.  

Namely, the pair has entered into a short-term symmetrical triangle that continued narrowing down in parallel to the increasing anxiety related to the upcoming fundamental event.  

From a daily chart perspective, a breakout to the top seems a more likely scenario, as the bullion is expected to reach the upper boundary of a massive long-term ascending channel. 

But in any case, the further direction will depend solely on content of the above speech.

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