XAU/USD trades at 1,470.00

Positions Today Yesterday Change
Longs 54% 49% 8.7%
Shorts 46% 51% -10.2%
Indicator 4H 1D 1W
MACD(12;26;9) Sell Sell Buy
RSI(14) Buy Neutral Neutral
Stochastic(5;3;3) Neutral Buy Neutral
Alligator(13;8;5) Sell Sell Buy
SAR(0.02;0.2) Sell Sell Sell
Aggregate

On Thursday, the XAU/USD exchange rate breached the medium-term ascending channel south. During today’s morning, the rate was trading at the 1,470.00 level.

Given that yellow metal is pressured by the 55-, 100- and 200-hour moving averages, it is likely that some downside potential could prevail in the market. In this case, the price for gold could surpass the 1,460.00 level.

However, note that the exchange rate could gain support of the Fibonacci 23.60% retracement at 1,462.89. If the given level holds, gold could consolidate against the Greenback in the short term.

      

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