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Alert - 09:55 (CET) - XauUsd
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The XauUsd (Ounce of Gold against the Dollar) is trading at 979.32, ranging between 970.67 and 982.52. The current price is over yesterday's close at 974.70. Checking the hourly graphics, we see that the 20- and 50-day EMA (Exponential Mobile Average) are over the 200-day EMA.
The traders are contemplating the resistances at 988.53 (Jly 15th high), 1000.00 (psychological) and 1200.00. The supports are watched at 932.73 (February 13th low), 900.00 (key) and 852.48 (January 23rd low).
According to the latest positioning data from the Comitment of traders report, the net long postions in the Comex rose to their maximum levels in six months in the week that ended on the February 10th. These rose 8.316 contracts to 163.622. The open positions, open interest, from these contracts are the biggest in two years, at 53.84%. This suggests that more investors are entering the ounce of gold trading.
Meanwhile, the current price is over the 23.60% (861.24) and under the 0.00% (1033.50) Fibonacci retracement line. The Relative Strenght Index (RSI) is at 55 points, rebounding from the overbought area. Also, the average volatility per hour is 1000 pips.
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