Technical Analysis

XAU/USD Analysis: Continues To Climb

Typography

The yellow metal's price has broken past the 1,280 mark, which managed to hold off the metal for a couple of hours.

On Friday morning, an ascending pattern was noticed. It can be mapped by connecting the high levels of early August 8 trading hours and the early high level of August 10. In that way the resistance line can be observed. However, the possible support line of a channel might be pinpointed by setting the parallel line at the August 8 low level.

In the meantime., it can be observed on various charts that there are no notable resistance levels until the 1,290 mark.

Author: Dukascopy Swiss FX GroupWebsite: http://www.dukascopy.com/
Dukascopy Swiss FX Group
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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