descending

$XAU
XAUUSD trend movements

XAUUSD broke the descending channel. Here's what this means
XAUUSD moved within the descending channel, which formed when the price touched the channel borders 5 times and has been valid since 17 June.
Current situation
XAUUSD broke through the upper boundary of the descending channel.
Possible scenario
Analysts recommend opening a Buy order with a stop loss near the upper channel border.
We will publish our next post on price channels at 7:00 a.m. UTC tomorrow. Come back to discover more trading insights.
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