Gold Analysis: XAU/USD could see a relief rally towards $ 1270

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    XAU/USD (gold price in terms of USD) extended the post-ECB extensive rally into a second day on Friday and rallied to the highest levels in thirteen months at 1283.01, before running into resistance once again above 1280. The prices corrected lower from thereon and gave up nearly $35 as the US dollar staged a solid recovery against its major peers and reversed more than a quarter of the ECB-induced massive sell-off. Gold prices also crashed as markets resorted to profit-taking as well as

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