FX.co ★ Analysis of Gold for September 18,.2020 - Breakout of the rising wedge pattern in the background and potential for the downside movement

ECB - 16 September 2020

Prior €17.3 billion

• Current account Seasonally Adjusted: 16.59 billion vs 20.69 prior

Slight delay in release Not a major focus now

Further Development

Analyzing the current trading chart of Gold, I found that there is the breakout of the triangle pattern in the background to the downside, which is good sign for the further lower prices.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Live Cattle and Oats today and on the bottom Natural gas and Lumber.

Key Levels:

Resistance: $1,955

Support levels: 1,937 and $1,933