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Gold Analysis: XAU/USD could rise to $ 1120-25 if US GDP disappoints

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold in terms of USD) finished in the red on Thursday, reversing three-back-to back session of gains, mainly on the back of a technical correction after the prices had formed three white soldiers candlestick pattern on the daily charts. The prices dropped sharply to 1111.50, before recovering to close the day at 1114.21, below the Fib 23.60% retracement of the latest rally to near three-month highs. A slew disappointing US macro releases viz., durable, core durable goods data and

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