XAU/USD trades sideways

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 73% 74% -1.37%
Shorts 27% 26% 3.70%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

During Friday's trading session, the yellow metal was supported by the 200-hour simple moving average to end the trading day at the 1,232.81 mark. On Monday morning, the gold was supported by the 55-hour and the 200-hour simple moving averages to trade at the 1,231.46 mark. 

In regards to the near-term future, most likely, the gold will trade upwards to reach the 1,235.00 level. The 55-hour and the 200-hour simple moving averages will support the surge during the trading session on Monday. 

It is expected that the yellow metal will reach the upper boundary of the ascending dominant pattern line at 1,240.50 in next few days.

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