XAU/USD supported by moving averages

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs56%57%-2.1%
Shorts44%43%2.7%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuySellBuy
SAR(0.02;0.2)BuySellSell
Aggregate⇗⇘⇒
[ANNOUNCE]

On Monday, the XAU/USD exchange rate tested the lower boundary of the short-term ascending channel at 1,457.00. During today's morning, the rate tried to surpass the resistance level — the monthly S1 at 1,475.18.

[/ANNOUNCE]

Note that yellow metal is supported by the 55-, 100– and 200-hour moving averages, currently located circa 1,467.00. Thus, it is likely that some upside potential could prevail in the market.

However, if the given resistance holds, it is likely that gold could consolidate against the US Dollar in the short run.

If the given support does not hold, it is likely that the price for gold could drop lower than 1,460.00 due to the lower channel line.

Actual Topics