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Gold Analysis: XAU/USD - A close above 100-DMA on daily basis needed for further upside

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Risk-off sentiment emerged underlying theme across the financial markets on Wednesday, with the XAU/USD (gold prices in terms of the US dollar) turned out to be one of the strongest safe-haven behind the yen. Gold prices rallied to fresh weekly highs at 1109.70, piercing through the 100-DMA placed then at 1105.61, as the market sentiment soured after the oil prices hit the lowest levels since 2003, especially with the US oil below $ 27. However, the bullish run lost legs and the prices

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