VasilyTrader

GOLD (XAUUSD) Price Action & Outlook for Next Week

Long
FX:XAUUSD   Gold Spot / U.S. Dollar

For a quite long period of time, I remain bullish biased on gold .

Wednesday's bullish move and bullish violation of a falling trend line on 4H was a quite important bullish clue to consider.
After some stagnation and consolidation, the price has dropped retesting the broken trend line .

A positive bullish reaction, especially on hourly, makes me think that next week bullish continuation will follow.
The price may retest a current local 4H high and then go even higher.

Good luck and have a great weekend!

Comments

Do you agree with my technical outlook?
+2 Reply
Looks fantastic Vasily
Reply
VasilyTrader AlkalineFX
@AlkalineFX, thank you buddy ☺️☺️☺️
+1 Reply