OANDA:XAUUSD   Gold Spot / U.S. Dollar

The counter XAUUSD’s price started moving upwards in the ascending channel . The formation of the ascending channel indicates the counter is in the bullish trend . The price is still in the channel and there is no indication for a breakout. The buying pressure of the market may pull the price even more upwards. Already the counter is in the bullish trend and the trend is expected to continue further. The upward movement of the MACD indicator gives additional support to the description.

The major levels for this counter are

R2 – 1908.44
R1 – 1888.98
PP – 1870.58
S1 – 1851.21
S2 – 1832.72