XAU/USD’s Short Term Chart Catches A Bid

Russell Shor, CFTe, MFTA FXCM

The below is the 1H chart of XAUUSD. We note that the green 5-hour EMA has crossed above the orange 10-hour EMA. Moreover, the RSI(9) has moved above 50 indicating that the underlying momentum has turned bullish. With the EMAs starting to show angle and separation it seems as if the precious metal has attracted the attention of buyers at current levels.

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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