Futures of the precious metal have stabilized in a maximum of two and a half weeks. The momentum of growth abated somewhat, as investors took profits after a rally in the previous session on the background of reducing the likelihood of recovery rates American regulator.
The pair XAU / USD in demand on Thursday. Buyers have attempted to reduce the recent losses and raised prices to the local minima to the nearest resistance at 1350 in the European session.XAU / USD came under pressure in the US session and fell to 1340. The tool has remained above the 50 EMA 100 EMA 200 EMA on the 4-hour chart. 50-EMA-EMA 100 intersects and EMA-200 in an upward direction in said time frame. All the moving averages are pointing upwards. Resistance is located at 1350 support - to 1330 per ounce.
MACD has decreased, which indicates a weakening of customer positions. The indicator is still generates a buy signal. RSI close to overbought.
Forecast for today gold
The pair is overbought and we can expect a short-term correction. The price can be reduced to the level of 1330.
Research Fort Financial Services