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Gold Analysis: XAU/USD correction looks limited to $ 1115 ahead of US data

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    As expected, XAU/USD (gold in terms of USD) posted sharp gains and reached fresh twelve–week highs at 1128.12 in a knee-jerk $ 13 rally following the FOMC statement release. The Fed made no changes to its monetary policy and held on to its gradual rate hike stance for this year. The US central bank did take notice of the recent global market turbulence and said it would assess the implications on the economic outlook. The prices quickly reversed the spike to multi-week highs and ended a tad

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