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XAU/USD: Regains 100-DMA, could spike to $ 1155-60 on FOMC minutes

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 8, 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) reversed previous gains and ended in the red on Wednesday at 1145.25, just ahead of the 100-DMA support then located at 1143.22. The pair failed once again near the falling trend line resistance and hence did not trigger a symmetrical triangle bullish break out on closing basis. The prices jumped from fresh two-week highs of 1153.74 and dropped to as low as 1141.88 levels after the US dollar managed to recover some lost ground amid a

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