FX.co ★ Gold on path to new highs

XAU/USD Upside Continuation!

The price of Gold registered a strong growth after escaping from the range pattern between 1,713 and 1,735 levels. You knew from my previous analysis that XAU/USD could resume its upwards movement after passing above the 1,735 upside obstacle.

Now, it has jumped above 1,748 previous high which represented an upside obstacle signalings further growth. As long as it stays above this broken level, Gold could approach and reach new highs.

XAU/USD Trading Conclusion!

Breaking above 1,748 indicates strong buyers and potential further growth. The breakout was seen as a potential buying opportunity.