Dukascopy Bank Team
Dukascopy Bank SA
XAU/USD
Yesterday, XAU/USD exchange rate revealed a rising wedge pattern. During Friday morning, the rate was testing the upper pattern line.
From a theoretical point of view, it is likely that the exchange rate could continue to trade within the given pattern within the following trading session.
On the other hand, it is likely that yellow metal could gain support from the 55– and 100-hour SMAs near 1,955,00 and a breakout north could occur. In this case the price for gold could target the 2020.00 level.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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