16 Sept 2014 XAUUSD Gold Analysis


Gold, XAUUSD, XAU/USD, Technical analysis, gold price Gold price falls to 1225

Gold, XAUUSD, XAU/USD, Technical analysis, gold price Gold price rebounds above moving averages after attaining 1225

Gold, XAUUSD, XAU/USD, Technical analysis, gold price Downtrend channel temporarily broken, reversal on the cards?

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The downtrend Fibonacci level at 1225 has seen the price of Gold rebound against the U.S dollar. Supported at 1230, the yellow metal is likely to retest 1240 resistance next, possibly breaking higher towards 1248 and in the region of the 200 hourly moving average on the H1. Failure to breakthrough the resistance of 1255 the bearish impulse is likely to resume.

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