Gold Analysis - XAU/USD: Looks to retest Fib support below 1160

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 26, 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) ended in the red on Friday at 1164.10, booking first weekly losses after two consecutive weeks of gains. The prices extended its 3-day decline and witnessed steep losses as the US dollar rallied to fresh two-month tops versus its major peers. The bullion failed to benefit from the ECB stimulus hints and China interest rate cut as the solid gains in the USD overshadowed the easing news. The yellow metal spiked to 1179.47 in a knee-jerk

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