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Gold Analysis: XAU/USD - A close above 100-DMA on daily basis key, FOMC in focus

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold in terms of USD) ticked lower on Friday at 1097.88, although booked weekly gains as markets continue to remain risk-averse on global uncertainties. The prices failed once again below 100-DMA then located at 1105 levels and dropped sharply to 1094.01 (as predicted), before recovering losses and managed to regain 5-DMA (then at 1094.90) at close. Gold prices drifted lower last Friday as risk-sentiment improved after oil prices rebounded and closed above $ 32, while the European and

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