FX.co ★ Patterns GOLD | Gold Rate in the Forex market

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 2659.23/2664.98 whereas the upper border goes across 2673.04/2664.98. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GOLD will breach the upper border to head for 2665.13.

According to the chart of M15, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 2644.02/2649.03 whereas the upper border goes across 2654.93/2649.03. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GOLD will breach the upper border to head for 2649.25.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 2644.02/2649.03 whereas the upper border goes across 2654.93/2649.03. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GOLD will breach the upper border to head for 2649.18.

According to the chart of H1, GOLD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 2641.32 and support 2618.36. In case the resistance level 2641.32 - 2641.32 is broken, the instrument is likely to follow the bullish trend.

The Triple Top pattern has formed on the chart of the GOLD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 24, support level -352, and pattern’s width 572. Forecast If the price breaks through the support level 2635.27, it is likely to move further down to 2641.17.

On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 2641.32; the lower boundary 2635.27; the width of the pattern 605 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 2635.12 level.

The Triple Bottom pattern has been formed on GOLD M5. It has the following characteristics: resistance level 2628.18/2628.00; support level 2621.83/2621.84; the width is 635 points. In the event of a breakdown of the resistance level of 2628.18, the price is likely to continue an upward movement at least to 2620.64.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 2624.73 and 2620.21 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 452 pips. Outlook: If the upper border 2624.73 is broken, the price is likely to continue its move by 2622.78.

According to the chart of M5, GOLD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 2625.05, the lower border is 2620.41. The signal means that a long position should be opened above the upper border 2625.05 of the Bullish Rectangle.

On the chart of the GOLD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 2620.88, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 417 points.