XAUUSD rallies into H1 resistance; daily still weak

XAUUSD rallies into H1 resistance; daily still weak for FX:XAUUSD by FXCM

XAUUSD rallies into H1 resistance; daily still weak

Gold/U.S. Dollar FX:XAUUSD



The left chart shows the XAUUSD daily timeframe . Price is in the bearish area, between the lower blue and lower red bands. The right chart shows the XAUUSD hourly. Here the price is rising into resistance (red shaded horizontal). We are looking to see if this is a key level i.e., if price will react at this level. If it does, a bearish cross of the EMAs and stochastic will be considered bearish developments, aligning the short-term traders with the longer-term trend.

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