Gold Price Forecast: XAU/USD bulls move in at a key support area on the FOMC minutes and a softer US dollar By ross_burland Gold Technical Analysis Fed CentralBanks DollarIndex
It was stated that ''gold is trapped between daily support and resistance still but is making headway. However, the W-formation is a reversion pattern that could leave the price trapped in the sideways channel for the days ahead. If, however, there is a break one way or the other, of the current support and resistance, then the price imbalances to $1,883 on the upside and $1,780 to the downside could be mitigated.''As illustrated, the price has moved in on the support in a 38.
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