XAU/USD stranded in narrow range

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

Positions Today Yesterday % Change
Longs 42% 59% -40.48%
Shorts 58% 41% 29.31%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Gold remained stable against the Greenback on Friday, as the notable resistance of the 55-hour moving average and the monthly R2 limited the pair's appreciation above the 1,355.00 mark. Thus, its subsequent movement was guided towards the 100-hour SMA located near 1,355.00. The yellow metal tested this area, likewise reinforced by the weekly PP and the bottom boundary of a short-term channel, early in this session. 

Considering the lack of noteworthy fundamentals today, the rate could remain stranded in the narrow 1,355.00/1,355.00 range for several hours until one of the aforementioned barriers is breached. It is more likely that bears prevail, thus allowing Gold to form a slight correction southwards from its 2017 high of 1,365.00.

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