XAUUSD: Gold Breakaway Gap Puts an End to the Consolidation

From dailypriceaction.com

I’ve discussed the gold (XAUUSD) bullish scenario for months. I first wrote about it on this blog on October 19th. And since September, I’ve said that XAUUSD may need to revisit the $1,790 area before moving higher. It’s a level that was critical for gold between 2011 and 2012. If you saw my November 28th forex forecast, you know about the support area between $1,700 and $1,790. Those were the locations of two descending channels we had on our radar. XAUUSD caught a bid at the higher level and bounced from $1,760 on November 30th and never looked back. As you can tell, today’s breakout above $1,900 has been ... (full story)