XAUUSD Lacks Trend on Daily

In the above daily chart, we are using a triple moving average system to assess the trend. Ideally, the short term green EMA>intermediate orange EMA>red long term average in an uptrend and green orange<red in a downtrend. At the moment the EMAs are lacking a bullish or bearish stack. However, it does seem as if a bearish bias is developing. We will watch the crossover for further development, focusing on angle and separation as a measure of momentum.