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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 211000, member: 80239"] [HEADING=1]XAUUSD - Investors are actively reducing short positions[/HEADING] The current growth was the reaction of traders to the slowdown in the USD dynamics, which has been putting pressure on the quotes of the precious metal for two months now. The proximity of the US Federal Reserve meeting, scheduled for Wednesday, July 27, provoked an outflow of investor capital into conservative gold, which traditionally acts as a safe-haven asset in situations of uncertainty. Of course, if the interest rate is increased by 75 or even 100 basis points, a short-term decline in the trading instrument is inevitable, but after that, the global correction may resume. [img]https://i.ibb.co/QcTp6Pm/gold.png[/img] On the weekly chart, the formation of a long-term downward channel continues, with dynamic boundaries of 1800.0–1650.0. The price is trying to start a new wave of growth. Technical indicators are holding a sell signal, which is slightly weakening: fast EMAs on the Alligator indicator have begun to approach the signal line, and the AO oscillator histogram is forming new rising bars in the sell zone. [B]Support levels[/B]: 1695, 1650 | [B]Resistance levels[/B]: 1741, 1786 [/QUOTE]
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