XAUUSD: We’ve Seen This Kind of Consolidation Before

From dailypriceaction.com

XAUUSD (gold) is pushing higher this week after consolidating since early August. Despite the aggressiveness of that move lower from 2075, I’ve continued to like XAUUSD higher over the long term. As I mentioned in last weekend’s forex forecast, this latest round of consolidation looks familiar. We’ve seen gold do this before since the uptrend began in 2016. Every round of consolidation has led to a higher high, and this time is no different, in my opinion. XAUUSD is in the middle of a 10-year bull cycle following a four-year pullback between 2011 and 2015. However, that doesn’t mean gold will break out this ... (full story)