XAU/USD: Symmetrical triangle bullish breakout finally! Targets 200-DMA

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The XAU/USD pair (gold prices in terms of the US dollar) finally gave a symmetrical triangle breakout to the upside on closing basis on Friday and rose sharply higher to fresh 3-month highs at 1159.71, before retracing slight at close near 1156 levels. The prices rallied to fresh tops after the dovish Fed minutes triggered a renewed US dollar sell-off. The Fed minutes turned out to be mixed and markets almost believed that Fed rate-hike this year is out. Thus, smashing the US dollar across the

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