Gold breaks out of triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The yellow metal broke out of the triangle pattern. The move was caused by the worse than forecast US employment data, which caused an all-out drop of the USD. The following surge ended at the resistance zone of the August high level at 1,830.00/1,835.00.

On Monday morning, the price had declined and found support in the 1,825.00 level.

If the price of the metal starts a decline, it could look for support in the 1,820.00 level, which previously provided resistance. Below the 1,820.00 level, the 55 and 100-hour simple moving averages might provide additional support.

On the other hand, a surge of the price most likely would test the resistance of the 1,830.00/1,835.00 zone before making an attempt to reach the 1,850.00 level.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
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.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
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.