FXPartisan

XAUUSD, a falling wedge pattern is formed

FX:XAUUSD   Gold Spot / U.S. Dollar
38 0 2
While it is formed by a series of lower lows and lower highs, falling wedge pattern is typically seen as a bullish signal because it shows declining selling pressure on each additional thrust lower. That perspective is also confirmed by the MACD , OSMA, CCI and RSI indicator. Note that falling wedge patterns have a high failure rate.
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