This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -


The precious metal gave up over one percent on Thursday.

The declines came on the back of a stronger US dollar. The declines are also invalidating the bullish ascending triangle pattern.

If price closes strongly below the rising trend line, then we could see further declines toward 1882.23 lows from October 14.

Alternately, price action could continue to consolidate within the trend line and the horizontal resistance level near 1920 region. This could mean there is still scope for prices to breakout higher.

Test your strategy on how gold will fare with Orbex - Open your account now. 

The post Gold Gives Back Gains, But Upside Bias Remains appeared first on Orbex Forex Trading Blog.

To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Tagged on: