Gold Analysis: XAU/USD: Weak NFP data likely to bolster the rally, $ 1180 on sight?

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 5, 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 its bullish run for the second straight session on Thursday, climbing as high as $ 1157.40, the highest levels since Oct 29 2015. The prices retreat to 1155.45 levels at close, although gave a daily closing above the weekly 50-SMA for the first time in a year. As expected, the bullion rallied almost $ 18 intraday after the US dollar resumed its sell-off across the board and added to Wednesday’s losses. The US dollar, gauged by the US dollar index

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