Gold Price Outlook: XAU/USD Breakout to Intensify as Volatility Surges

The breakout above yearly down-trend resistance in Gold has fueled a rally of nearly 4% off the monthly lows with the advance failing just ahead of a key resistance range in price. These are the updated targets and invalidation levels that matter on the XAU/USD charts from here. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

Gold Daily Price Chart

Gold Price Chart - XAU/USD Daily

Technical Outlook: In our latest Gold Weekly Technical Outlook our ‘bottom line’ noted that price had, “cleared a technical resistance confluence / the monthly opening-range high and keeps the outlook weighted to the topsideFrom a trading standpoint, I’ll continue to favor fading weakness while above this week’s open at 1203 targeting the 1235/38 resistance range.” The price breakout in XAU/USD registered a high at 1233 this week before turning

Article source: https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2018/10/18/Gold-Price-Outlook-XAUUSD-Breakout-to-Intensify-as-Markets-Tailspin-Technical-Chart-Forecast-MBCS.html