Gold Price Forecast: XAUUSD Coils Ahead of Next Big Break

Gold Price Forecast: XAUUSD Coils Ahead of Next Big Break

Gold Price Forecast Talking Points:

Ahead of this recent digestion, Gold prices were breaking out with aggression, setting a fresh all-time-high in early-August. Are bulls waiting to drive that next break?

The analysis contained in article relies on price action and chart formations . To learn more about price action or chart patterns, check out our DailyFX Education section.

Last week saw Gold prices tease a bullish breakout. But, buyers stepped back before a re-test of the prior October high and, so far, Gold prices have continued in the digestion backdrop that’s become commonplace over the past two months.As looked at last week, Gold prices remain in a falling wedge pattern after the bullish breakout drove through the August open. This isn’t the first time that Gold prices have formed a falling wedge during this recent bullish cycle, as similar scenarios presented itself in Feb-May of last year […]

About the author: StockMan

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