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Gold Analysis: Gold nears $1200 mark, USD a risk-off currency again?

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Gold prices took out the falling channel resistance on the weekly chart and are now trading just few points short from the $1200 mark. Weekly Chart • We clearly see a bullish break from the falling channel, followed by a rise to near $1200 mark. The bullish move to the falling channel resistance was anticipated here . • The immediate resistance now is the weekly 100-MA stationed at $1200. A bullish break would expose $1232.41 (May 2015 high). • Despite, the bullish break, a caution

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