XAU/USD’s EMAS Moving Towards Bearish Stack Formation

Russell Shor, CFTe, MFTA FXCM

The below is the daily chart of the XAUUSD. The orange 13-day EMA is looking to cross below the black 34-day EMA (green ellipse). This will put the EMAs into a bearish stack. I.e. the green 5-day EMA will be below the orange 13-day EMA, and the orange 13-day EMA will be below the black 34-day EMA. Furthermore, the RSI(9) is below 50 and indicative of an underlying bearish momentum (blue rectangle). This type of EMA formation is generally a characteristic of a mark-down phase. We continue to monitor for further developments.

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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