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Gold Analysis: XAU/USD - A decisive break above $ 1080, targets $ 1088-1094

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold prices in terms of the US dollar) halted a 2-day slide and rebounded sharply on Tuesday, finally reaching highs beyond 1080 barrier. The price regained 10-DMA at 1078.49 and extended to the upside as a renewed buying interest for the yellow metal spurred following the news of a Russian fighter jet shot down by Turkey near the Syrian border. The investors fretted over conflicts escalating in the Middle-East on the plane crash news and flocked to the traditional safe-haven in gold.

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