Gold’s Rally Completes The Ascending Triangle Pattern

xauusd technical analysis

The precious metal rose just under 1% on Friday, settling at 1743.94.

But, this was not before rising to intraday highs of 1751.42. This also marks the upside target of the ascending triangle pattern.

Gold prices were consolidating below the technical resistance level of 1717.65.

Following the higher lows, price action eventually broke past the resistance level.

At 1743.94, gold prices are now testing the April 14 highs.

If there is no further breakout, expect a pullback. The previous price level at 1717.65 could be tested for support.

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“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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