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Gold · XAU/USD

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Gold: Ascending Triangle

XAU/USD, 1 hour    SHORT Jun 16
As we can see an ascending triangle is close to being finished, XAU/USD wants a strong move to confirm ascending triangle breakdown. An ascending triangle is a technical indicator that often identifies a sharp decline if price breaks below support. XAU/USD to maintain its negative tone to the 1845 level as door open for the continuation of the downtrend.

Gold: Falling Wedge

XAU/USD, 1 hour    LONG Jul 9
As we can see a falling wedge materializes and the price is going to break out soon. A falling wedge identifies a technical price signal that signals that the price to go long when price breaks above resistance. A further bullish push up to 1815 about to be made as downside pressure alleviates.

Gold: Bearish Flag

XAU/USD, 4 hours    SHORT 4 days ago
There is a bearish flag forming and the price wants a further steady move as evidence of a breakout. In case if price breaks through the support, the move could predict a move down. Corrective downside towards 1785 looks probable as door open for the continuation of the downtrend.

Gold: Pennant

XAU/USD, 1 hour    LONG May 3
We can see that a pennant is close to being finished and the price requires a further bullish move for clear breakout confirmation. Once price breaks out to the the upside, the move could identify an extension in the upward direction. There is a probability of a bullish move towards 1772 amid rising bets for the move.

Gold: Rectangle

XAU/USD, 4 hours    SHORT Aug 5
XAU/USD forms a rectangle and the price demands more pullback as evidence of a breakout. Once price breakdown occurs, the move could indicate the bulls have run out of steam. XAU/USD to suffer further downside towards the 1805 zone while lower than 1809 as the mood may get worse.

Gold: Descending Channel

XAU/USD, 1 hour    LONG May 25
A descending channel is encountered, XAU/USD requests an impulse up as proof of a breakout. A descending channel typically indicates a bullish price move once price breaks above resistance. XAU/USD to recover bullish potential towards 1888 as XAU/USD challenges 1886 hurdle.

Gold: Descending Triangle

XAU/USD, 1 hour    LONG Aug 26
A descending triangle is almost finished, the price calls for a further bullish continuation as a signal of a breakout. A descending triangle can be thought of as a price indicator that can be used to spot extending an uptrend in case if price breaks through the resistance. XAU/USD embarks on a bullish correction to 1800 on a breach of 1794 as downside pressure mitigates.

Gold: Rising Wedge

XAU/USD, 1 day    SHORT Jun 4
A rising wedge turns up, XAU/USD requests a next active move for the certainty of breakout. A rising wedge represents a useful price formation that identifies an extension in the downward direction in case if price breakdown occurs. There is a possibility of extra downside towards 1800 on a breakout of the rising wedge.

Gold: Descending Triangle

XAU/USD, 1 hour    LONG Aug 13
There is a descending triangle poping up and XAU/USD expects more strong rise as a verification of a breakout. A descending triangle depicts a technical bullish pattern that predicts a sharp rise once price breaks out to the the upside. XAU/USD pushes higher to the 1760 mark once above 1755.

Gold: Bullish Flag

XAU/USD, 1 hour    LONG May 19
A bullish flag is exposed, the price is ready to break out now. A bullish flag denotes a useful signal that is used to spot a bullish price move once price breaks out to the the upside. There is a possibility of a bullish push up to 1874.

Gold: Descending Channel

XAU/USD, 1 hour    LONG May 25
A descending channel has been encountered and the price is going to break out. A descending channel tends to be a technical chart formation that has a downward slope that can be used to spot a temporary interruption during a falling market once price breaks out to the the upside. XAU/USD to recover bullish potential to 1886 on a break above 1884.

Gold: Rectangle

XAU/USD, 1 hour    LONG May 14
It looks like a rectangle is close to being complete and the price asks for a more bullish action to confirm a breakout. A rectangle represents a reliable chart pattern that is used to indicate that the price to go up in case if price breaks out to the the upside. XAU/USD to continue the appreciation trend to 1835 on a breach of 1830 as there is room for a upside correction.
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