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Gold – Descending channel ahead of US non-farm payrolls

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Gold suffered its biggest weekly loss of 2016 as hawkish talked from Fed officials helped the US dollar strengthen at the expense of commodities. The metal was heading into the week on a weak note as pointed out here Gold Analysis: bearish price-RSI divergence intact despite dovish Fed . The metal failed to cheer good news released over the last couple of weeks; hence the slide is not surprising. Unusual week ahead Usually we get ISM manufacturing, non-manufacturing and ADP report ahead

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