The Cup and Handle pattern is a bullish technical analysis pattern that is formed when the price of an asset creates a rounded bottom, followed by a small downward trend and then an upward trend that forms the handle. This pattern is considered bullish because it suggests that the asset is in a long-term uptrend and that the downward trend following the rounded bottom is a temporary correction before the price continues to rise.
In the case of the XAUUSD gold chart, the Cup and Handle pattern suggests that there may be upward momentum in the price of gold . The minimum price target for this pattern is calculated by taking the highest point of the handle and adding it to the highest point of the cup. This gives a minimum target of 2800 USD for the price of gold .
However, it's worth noting that technical analysis should not be used in isolation when making investment decisions. It's important to also consider fundamental factors such as economic conditions and market sentiment, as well as risk management strategies. Additionally, it's always important to have a stop loss in place in case the price doesn't reach the expected target.
This analysis is not financial advice.
In the case of the XAUUSD gold chart, the Cup and Handle pattern suggests that there may be upward momentum in the price of gold . The minimum price target for this pattern is calculated by taking the highest point of the handle and adding it to the highest point of the cup. This gives a minimum target of 2800 USD for the price of gold .
However, it's worth noting that technical analysis should not be used in isolation when making investment decisions. It's important to also consider fundamental factors such as economic conditions and market sentiment, as well as risk management strategies. Additionally, it's always important to have a stop loss in place in case the price doesn't reach the expected target.
This analysis is not financial advice.