XAU/USD 1H Chart: Channel Up

Note: This section contains information in English only.
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
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