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XAU/USD has been experiencing significant attention from market bulls since the previous session. Consequently, this has caused the pair’s price to recover above the $1,800 price level. And, at this point, we may experience more price increases.
Major price Levels:
Top Levels: $1,818, $1,840, $1,870
Floor Levels: $1,800, $1,770, $1,740
XAU/USD Looks Ready to Visit the Resistance $1,825
The XAU/USD daily market seems to be revealing that price action may soon visit more elevated price levels. The new trading session has started in the green, as the latest price candle portrays bullish activities. Additionally, the lines of the RSI seem to be portraying that price action may have gained significant upside momentum. This could be observed as the leading line of this Indicator is now at the 59.22 level. Also, the MACD Indicator lines are now above the 0.00 level at 20.54 and 20.53 levels. The lines of this indicator appear ready to resume their upside path after moving sideways for a while. This observation is drawn from the fact that it appears as if the green histogram on this Indicator, has started growing once more. Consequently, such activity in this market aligns with indications of a continued upside price movement.
XAU/USD Keeps up With Positive Signs
Like what was observed on the daily market, it could be seen that price action for the new session in the 4-hour XAU/USD market has continued in the green as well. Even the current price of the pair seems to have increased by more than a dollar coming from the daily market. Furthermore, the Stochastic RSI indicator lines are now preparing a bullish crossover. Interestingly, this is happening when these lines are still above the 70 level of the Indicator. Likewise, the MACD curves seem poised for a continuous ride on the positive side. Therefore, traders in this market can forecast that XAU/USD price may rise above the $1,820 level, and may move towards the $1,825 level or higher.
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