FX.co ★ Patterns GOLD | Taux de l'or sur le marché Forex

On the chart of GOLD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 5045.59; the lower boundary 5021.27; the width of the pattern 2432 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 5021.04 level.

According to the chart of M5, GOLD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 4933.64 while the median line of the Neck is set at 4980.25/4975.86. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GOLD will go towards 4976.01.

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 4944.61/4970.23 and upper border is 5002.15/4970.23. The pattern width is measured on the chart at -5754 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GOLD breaches the lower border, the price could continue its move toward 4970.08.

On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 4991.01; the lower boundary 4971.68; the width of the pattern 1933 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 4971.53 level.

According to the chart of M5, GOLD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 4988.87 and support 4971.68. In case the resistance level 4988.87 - 4988.87 is broken, the instrument is likely to follow the bullish trend.

The Double Top pattern has been formed on GOLD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 4972.42 is broken, the downward movement will continue.

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 4906.39 is likely to encourage a continuation of the downward trend.

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 4877.97/4945.90 and upper border is 4992.34/4945.90. The pattern width is measured on the chart at -11437 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GOLD breaches the lower border, the price could continue its move toward 4945.75.

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 4877.97/4929.24 and upper border is 5003.64/4929.24. The pattern width is measured on the chart at -12567 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GOLD breaches the lower border, the price could continue its move toward 4929.09.

The Triple Top pattern has formed on the chart of the GOLD H1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 4987.73/4998.86 with the upper limit 5085.98/5118.76; the projection of the width is 9825 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 4987.73, the price is most likely to continue the downward movement.