XAUUSD Consolidating After A Strong Recovery

Gold prices are trading rather flat on the day following last week’s gains.

Price action is trading near the ascending wedge pattern amid some choppy trading.

If XAUUSD fails to breakout above the previous highs of 1643, then we expect a move lower.

The initial support at 1594 will be the initial support of interest.

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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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