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XAU/USD: A break below $ 1174-1173 needed for further declines

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD: A break below $ 1174-1173 needed for further declines Gold prices in terms of the US dollar (XAU/USD) failed an attempt to 1100 levels on Monday and dropped sharply towards multi-year lows near 1080 levels. Friday’s barbaric Paris terror attacks spooked markets and investors flocked to safety assets such as the bullion, thus driving the prices as high as 1098.18. However, the European markets reacted calmly to Paris terror news and risk-off sentiment eased heading towards the US

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