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XAUUSD Technical Analysis

On the daily chart below, we can see that after tapping into the record high at 2076, Gold started to fall as better than expected economic data lifted treasury yields and boosted the US Dollar. The price yesterday broke below a key trendline which is the base of an expanding wedge pattern. We should now see the price falling towards the 1930 level where we can also find the 50% Fibonacci retracement level and the major trendline. That support zone is expected to be really strong, and the buyers... Read More

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Xauusd

Technical

Analysis

Forex

Posted: May 17 2023, 10:20

Author Name: forexlive

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