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Gold Analysis: Falling wedge bullish break on 1hr chart, targets $ 1260 & beyond

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold price in terms of USD) fell sharply on Friday and booked second straight weekly loss, falling as low as 1211.41, before recovering some ground to end the week at 1224.22. The prices fell almost $ 30 intraday as the greenback jumped to fresh three-week highs against its major peers after the US Q4 GDP estimate surprised markets to the upside, growing at 1.0% versus a 0.4% rise expected. The latest US growth numbers added to the recent upbeat US factory and capital goods data,

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