|XAU/USD (Gold) : Above the upper band of its bullish channel|
|The pair XAU/USD (Gold) is moving above the upper band of its bearish channel (purple lines).|
The gold just found support on 1550 points and is currently trying to rebound on 1580 points as resistance.
We think that the gold will continue its bearish rally above the upper band of its channel. The breakout of 1550 points will offer a new sell signal.
If a return above 1580 points occur, we will then advise to wait the breakout of 1600 points to advise long positions.
Update : 07/03 - The gold is currently validating the breakout of 1600 points, offering a buy signal.
|Complete sheet of the pair XAU/USD (Gold) - Previous XAU/USD (Gold) Analysis|
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom in :
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom out:
XAU/USD (Gold) Live Chart - Timeframe : 1h