XAU/USD fails to break below 55-hour SMA

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

Positions Today Yesterday % Change
Longs 49% 49% 0.00%
Shorts 51% 51% 0.00%
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) Buy Buy Buy
Aggregate

In result of the previous trading session the exchange rate slipped to the lower trend-line of a junior ascending channel, as expected.  

Although the pattern has been broken, the further plunge still seems unlikely, as the southern side is reliably covered by a combination of the updated weekly PP at 1,316.13 and the 55- and 100-hour SMAs.  

For this reason, the pair is likely to make one more attempt to reach the upper boundary of a dominant five-month long descending channel. 

Due to absence of any significant data releases the rate might spend most of this week fluctuating between the above trend-line from the north and technical indicators from the south.  

In larger perspective, bears are projected to take the lead for notable amount of time.

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