XAU/USD Analysis: Was located at 1,208
|XAUUSD
The gold price appreciated 0.09% since Thursday's trading session. During Friday morning hours, the yellow was surging upwards into the pattern and was located at the 1,208.00 level.
In regards to the near future, the yellow metal should bounce off the bottom boundary of the ascending trend and surge upwards due to the support of the 55-hour simple moving average, which will catch up the rate in a couple of hours on Friday session.
Besides, gold could continue to surge upwards without the help of the bottom boundary of the trend-line and the 55-hour simple moving average.
Interested in XAUUSD technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.