HomeContributorsTechnical AnalysisXAU/USD Aims To Medium Pattern Line

XAU/USD Aims To Medium Pattern Line

During the previous trading session, the yellow metal traded between the 100-hour and the 200-hour simple moving averages. On Thursday, the gold was located below the monthly pivot point at the 1,306.10 mark.

In regards to the near-term future, most likely, the 100-hour and the 200-hour SMAs will push the rata towards the bottom boundary of the medium pattern line at 1,302.00.

Besides, it is expected that today’s US Retails Sales, Core Retail Sales, PPI and Core PPI data release at 13:30 GMT will push the yellow metal to depreciate against the US Dollar.

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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