Description:
The counter XAUUSD is moving in the parallel channel. The movement of the price is between the price range of 1769.13 and 1960.41. Specifying a particular trend is very difficult when the counter is in the parallel channel. Today the counter has tested the support baseline of the channel and there is no indication for a breakout. The market’s pressure may push the price even more upwards. The curves of the stochastic indicator are at level 20 which gives additional support to the description.
The major levels for this counter are
R2 –1809.60
R1 –1796.71
PP –1778.65
S1 –1765.76
S2 –1747.70
The counter XAUUSD is moving in the parallel channel. The movement of the price is between the price range of 1769.13 and 1960.41. Specifying a particular trend is very difficult when the counter is in the parallel channel. Today the counter has tested the support baseline of the channel and there is no indication for a breakout. The market’s pressure may push the price even more upwards. The curves of the stochastic indicator are at level 20 which gives additional support to the description.
The major levels for this counter are
R2 –1809.60
R1 –1796.71
PP –1778.65
S1 –1765.76
S2 –1747.70