XAU/USD shows strong bearish signals

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 75% 75% 0.00%
Shorts 25% 25% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The yellow metal has depreciated 1.27% against the US Dollar since mid-Wednesday. The pair tested the bottom boundary of the trend line at 1,186.53 early on Thursday, which created a new down-trend.

During Thursday morning hours, Gold was at 1,190.03, testing the 200-hour SMA as additional support level to recover itself. However, the yellow metal passed the 200– hour simple moving average at 7:00 GMT on Thursday, which shows strong bearish signals for traders.

Insignificant data releases are scheduled for today's trading session which may keep the yellow metal between the 55-hour and 200-hour SMAs.

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