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Gold Spot / U.S. Dollar
Long

XAUUSD | Bullish

By zain425
Updated
The XAU/USD chart is forming a parallel channel and making new higher highs and higher lows according to Dow Theory and pattern analysis. On a higher time frame, the structure of GOLD is bullish. However, on a lower time frame, we can expect a slight downside move to sweep out liquidity before the upside rally begins. Fundamentally, the outlook for gold is bullish.
Trade closed: target reached
TP 1: Hit
Trade closed: target reached
TP 2: Hit
Chart PatternsFundamental Analysisfundamental-analysisgoldlonggoldpredictionTechnical AnalysisTrend Analysisxauusdbuyxauusdlongxauuusdforcast

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