ad
Forex Brokers Award 2021
Vote your favourite broker

Gold’s Rally Completes The Ascending Triangle Pattern

May 18 2020, 02:22 PM (BDT) | Orbex.com

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.

Orbex.com

At Orbex, the client is at the heart of everything we do and everything we do is designed to guarantee your satisfaction. Here’s how Forex Trading with Orbex will enhance your trading experience: Best-in-class customer service, including live chat and free webcall One-hour response time for sales and support requests Multiple asset trading and ECN accounts on MT4 0.9 pip fixed spread at ZERO commission Up to 1:500 leverage
ad