Gold Price Forecast: XAU/USD bulls jump on US Dollar weakness, busting out of the coil Gold Commodities Fed DollarIndex Technical Analysis
We had a bullish pennant on the daily and 4-hour charts:The Gold price bulls were back in the market after an anticipated drive from around the supporting area. The Gold price update, live chartOn the following daily chart, the price has rallied through resistance, and if there is not just a continuation right off the bat into $2,050s, then the
scale comes into play. We have the 38.2% Fibonacci retracement aligned with the $2,000 area that could come back under pressure for a retest, if not lower, prior to the next bullish impulse and an eventual upside continuation: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.
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