Gold Analysis: XAU/USD remains exposed to further downside risks, US GDP eyed

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Although the Fed decision on the discount rates turned out to be a non-event on Monday, XAU/USD (gold prices in terms of the US dollar) managed to score a low of 1066.49, almost matching our expectations of 1065 levels. The prices continue its downward spiral, after failing near 1075.50 levels where the bearish 20-SMA and horizontal 100-SMA on the hourly sticks posed a strong resistance. Gold prices extended the previous drop on Monday after the USD jumped to the highest levels in over seven

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