USD Index seems vulnerable
Gold price (XAU/USD) has stretched its rally to near $1,964.00 in the European session. The precious metal is expected to deliver more gains at the USD Index(DXY) looks vulnerable above the crucial suppot 102.00.
Gold price has delivered a breakout of the falling channel pattern formed on two two hour scale. A bullish reversal. The precious metal is approaching the horizontal resistance plotted from 16 May low at $1,985.53.
Gold price climbed above the 200-period
Exponential Moving Average(EMA) at $1,960, which indicates that the long -term trend has turned bullish.
The Relative Strength Index(RSI)(14) is looking to shift into the bullish range of 60.00-80.00. An occurance of the same will activate the upside momentum.
Gold price (XAU/USD) has stretched its rally to near $1,964.00 in the European session. The precious metal is expected to deliver more gains at the USD Index(DXY) looks vulnerable above the crucial suppot 102.00.
Gold price has delivered a breakout of the falling channel pattern formed on two two hour scale. A bullish reversal. The precious metal is approaching the horizontal resistance plotted from 16 May low at $1,985.53.
Gold price climbed above the 200-period
Exponential Moving Average(EMA) at $1,960, which indicates that the long -term trend has turned bullish.
The Relative Strength Index(RSI)(14) is looking to shift into the bullish range of 60.00-80.00. An occurance of the same will activate the upside momentum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.