XAU/USD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The summer brought notable changes to gold's trend; in particular, the most traded precious metal managed to swing to gains early June after it touched a four-month low of 1,240.70. Shortly after the advance has started, the bullion entered a bullish corridor that now is almost 200-bar long.
Currently, XAU/USD is on the brink of a sharp decline that will confirm that the recent drop below the lower trend-line was a real breakout. However, traders do not support the idea that the current weakness will lead to the bearish exit—more than 67% of them bet on appreciation of the yellow metal.
© Dukascopy Bank SA
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.