Gold Analysis: Gold tracks EUR lower ahead of ECB, more downside ahead?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    XAU/USD (gold price in terms of USD) faced heavy selling pressure on Tuesday, after the bulls were rejected just below $ 1280, despite worsened risk conditions after weak Chinese trade figures refuelled concerns over the world’s second largest economy. The prices witnessed nearly $ 20 sell-off after the US dollar for the second straight session, following more ECB easing chatter-led sharp declines in the EUR/USD pair. Amid a lack of fresh economic news, gold followed USD moves and completely

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