Gold Analysis: XAU/USD: Could take out Fib golden ratio on softer US CPI data

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The XAU/USD pair (gold prices in terms of the US dollar) extended gains for the third straight session on Wednesday and pierced through the key 200-DMA at 1176.86, scoring fresh three and a half month highs at 1189.94, just shy of the Fib golden ratio at 161.80% retracement (Set 24-Oct 2 decline) located at 1190.18. The prices were caught by a fresh buying wave following the release of dismal retail sales and PPI data from the US, which further squashed Fed rate hike expectations for this

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