XAUUSD - Broke the triangle structure

16 Mei 2020

XAUUSD - from the Daily perspective we broke the triangle structure and from the weekly perspective we are also in bullish environment, where we expected after weeks of retracement, push to the upside. At the moment after we broke the triangle structure we should wait for a retracement at least to 38,2% of Fibonacci which will be around 1730 and then we will be monitoring the market and looking for LONG all the way to 1770 - 1780 which is also a STRONG resistance line.