HomeContributorsTechnical AnalysisXAU/USD Trades Sideways At 1,292.00 Level

XAU/USD Trades Sideways At 1,292.00 Level

During the previous trading session, the yellow metal was supported by the 55-hour and the 100-hour simple moving averages. On Thursday, the rate was trading at the 1,294.33 mark.

Most likely, the gold will be retraced by the medium pattern line at 1,294.33 to push the rate to trade sideways. Moreover, it seems that the yellow metal will be trading at the 1,292.00 level during the day.

However, the gold could break the resistance of the medium pattern line at 1,294.33 to surge towards the 1,298.00 level.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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