Gold Daily Poised for Potential Move
The above chart shows the for XAUUSD . We note that price has moved into a area (zone 1). The Bollinger’s have also narrowed which may suggest that is due to increase (blue ). Moreover, the has moved above 50 (red ), which is the area of the oscillator and the has tuned positive (green ). We are looking to see if the Bollinger’s expand and if the moves toward 80 (blue arrow). This would indicate a momentum push. The gold CFD here may incur an overnight rollover charges [or using a FXCM AU account these may be waived], but if the is able to move to the upper quintile and hold there, it will increase the probability of a potential sustained swing.