XAU/USD’s EMAs Line Up Bearishly

Russell Shor, CFTe, MFTA FXCM

The below is the daily chart of the XAUUSD. The green 5-day EMA has crossed below the orange 13-day EMA (blue ellipse). This has put the EMAs into a bearish stack. I.e. the green 5-day EMA is below the orange 13-day EMA, and the orange 13-day EMA is below the black 34-day EMA. The RSI(9) has also dipped below 50, which may be indicative that a negative momentum may be emerging (blue rectangle). If the EMAs are able to develop angle and separation it will be viewed as a bearish development.

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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