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1 Oct 2014 XAU/USD Gold Analysis

1 Oct 2014 XAU/USD Gold Analysis

XAUUSD, XAU/USD, Gold, Gold bullion, commodity, commodities, precious metals, metals, gold price, gold price forecast, gold price outlook, XAUUSD analysis, XAUUSD technical analysis, XAUUSD outlook, XAUUSD price, XAU/USD analysis, XAU/USD forecast, XAU/USD outlook, XAU/USD price, XAU/USD technical analysis, XAU/USD analysis, XAUUSD forecast Strength of the USD kept Gold prices low as 1208 support is retested during the low of trading yesterday

XAUUSD, XAU/USD, Gold, Gold bullion, commodity, commodities, precious metals, metals, gold price, gold price forecast, gold price outlook, XAUUSD analysis, XAUUSD technical analysis, XAUUSD outlook, XAUUSD price, XAU/USD analysis, XAU/USD forecast, XAU/USD outlook, XAU/USD price, XAU/USD technical analysis, XAU/USD analysis, XAUUSD forecast 1208 support was tested 3 times and broke on the H4 charts and looks likely to fall towards 1200-1190 range before next retracement.

XAUUSD, XAU/USD, Gold, Gold bullion, commodity, commodities, precious metals, metals, gold price, gold price forecast, gold price outlook, XAUUSD analysis, XAUUSD technical analysis, XAUUSD outlook, XAUUSD price, XAU/USD analysis, XAU/USD forecast, XAU/USD outlook, XAU/USD price, XAU/USD technical analysis, XAU/USD analysis, XAUUSD forecast Intraday traders may look to the end of the retracement and should support at 1203 hold, a return to 1208, 1215 is likely

Expanding surpluses, decrease in China’s production and coupled with the strengthening U.S dollar are all cumulative in what caused investors to bet that commodity prices have not reached its lowest yet. Gold fell below 1220 yesterday after being momentarily being supported at 1215 in the early trading session. The Fed’s positive outlook on interest rates also curbed interest and holding of Gold, while the drop in consumer confidence in the U.S failed to stem the fall of demand for the yellow metal.

 

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish119012001203121512301241

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