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Gold: Will the rally cross 1100?

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Right as gold bears were doing victory laps, everyone’s favorite yellow metal has staged a big comeback over the last two days. Gold ticked down to a low of 1046 ahead of yesterday’s big ECB meeting, but Draghi’s failure to deliver lead to a massive 400+ pip rally in EUR/USD. The combination of easier monetary policy in the Eurozone and US dollar weakness collaborated to drive gold up about 20 points. That move stretched into today’s trade as bears continued to abandon the crowded trade en

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