XAU/USD Moving Towards Neutral

The below is the daily chart of the XAUUSD. The green 5-day EMA is converging on the orange 13-day EMA (blue ellipse). If its crosses below it will effectively end the bullish EMA stack. The upside momentum certainly has been declining with the RSI(9) now at the neutral 50 level (blue rectangle). The EMA crossover will mean that the precious metal has moved into a neutral EMA formation which is a characteristic of a congestion area.

XAUUSD

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.