Dukascopy

XAU/USD heads towards 1,293.00 again

FX_IDC:XAUUSD   黄金/美元
XAU/USD heads towards 1,293.00 again

During the previous trading session the exchange rate indeed formed and made a breakout from junior symmetrical triangle pattern . Fortunately, a combined support formed by the 100-hour SMA and the updated weekly PP at 1,286.16 managed to turnaround the pair. In short run, the surge of the yellow metal once again is likely to be halted near the 1,293.00 and 1,295.00 resistance levels, which might lead to formation of a minor ascending triangle . But in larger perspective the pair is projected to reach the upper boundary of a medium-term ascending channel near the 1,300-1,302.00 marks. In support of this assumption, 55% of traders remain bullish on the given pair. Moreover, since that area is backed up by the 23.6% Fibonacci retracement level there is little chance that the pair will manage to breakout to the top.
评论: XAU/USD forms rising wedge

In line with expectations, the yellow metal continued to rally against the buck on Monday. In result of the seven-hour surge, the pair managed to reach combined resistance formed by the monthly and weekly R1 at 1,297.00-1,298.00 and confirmed an assumption about transformation of the channel into the rising wedge formation. The appearance of new pattern only additionally confirmed that bulls are trying to push the rate to the 1,302.00 level. As that area is protected by the 23.6% Fibonacci retracement level, the pair is expected to make a fully-fledged rebound.

However, in shorter perspective there is need to take into account that Trump’s meeting with Senate Republicans regarding prospects of tax reform as well as Powell’s appearance before Congress are likely to lead to strengthening of the buck and retreat to 1,292.00.

snapshot
简体中文
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
繁體中文
首页 股票筛选器 外汇信号搜索器 加密货币信号搜索器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
个人资料 个人资料设置 账号和账单 我的支持标签 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出