XAU/USD Turns Bearish on H4 Chart

Russell Shor, CFTe, MFTA FXCM

The below is the H4 chart of the XAUUSD. The green 5-period EMA has crossed below the orange 10-period EMA (green ellipse) and the RSI has moved below 50 (blue rectangle). These are bearish developments. If the EMAs maintain and develop further angle and separation it will likely be due to downward pressure. We continue to monitor.

Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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