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XAU/USD: Extending the recovery towards $ 1150 & beyond

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The XAU/USD pair (gold prices in terms of the US dollar) traded in familiar ranges on Thursday, witnessing extreme moves on both sides of the trade following the release of the Fed minutes. The prices spiked to 1151.20 highs in a knee-jerk to the Fed minutes, although quickly faded the spike and reverted to the pre-release levels, finding good support at the Fib 61.80% (last week’s decline) located at 1136.52. The prices failed to extend higher as the FOMC minutes revealed that the Fed

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