XAU/USD’s EMAs Move Into Bullish Stack On Weekly Timeframe

Russell Shor, CFTe, MFTA FXCM

The below is the weekly chart of the XAUUSD. The green 5-week EMA has crossed above the orange 13-week EMA (red ellipse). This has put the EMAs into a bullish stack. I.e. the green 5-week EMA is above the orange 13-week EMA, and the orange 13-week EMA is above the black 34-week EMA. The RSI(9) is also above 50 and indicative of an underlying bullish momentum. If the EMAs develop angle and separation it will be regarded as a bullish development.

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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