Gold has been moving strongly against USD and it might grow higher due to expectations that the Federal Reserve would cut interest rates in the upcoming policy meeting.
The support rests at 1327.88 with resistance at 1338.11 which both lines are above the weekly pivot point at 1295.37. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
Long positions are recommended towards 1345.