Gold Analysis: XAU/USD - Looks to test $ 1100, US CPI – In focus

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    XAU/USD (gold prices in terms of the US dollar) dropped on Tuesday as expected and closed the day in the red at 1087.87, having struck daily lows at 1082.51 and almost tested 20-DMA. As anticipated, the weakness in the EUR/USD pair led to the rise in the US dollar and weighed on the gold prices. The common currency ignored mildly auspicious economic news in the form of ZEW and fell as low as 1.0866 before recovering above 1.09 handle at close. The risk-on sentiment dominated markets yesterday,

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