Gold Analysis: Rounding bottom breakout on hourly sticks, targets $ 1130

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    XAU/USD (gold in terms of USD) reversed previous losses and extended higher on Monday, finally closing well above 100-DMA then at 1105 levels. The prices rallied on the back increased safe-haven bids as a renewed bout of risk aversion gripped markets after the oil prices end a 2-day short-covering rally and slipped back in the red. The bullion witnessed a $ 12 rally intraday and remained firmer also on a broadly lower USD as markets cast doubts over the Fed’s outlook for future interest rate

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