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16th Oct 2014 XAU/USD Gold Analysis

16th 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 The fall in Core Retail Sales month on month shifted interest to Gold buying as risk adverse investors moved away from the U.S dollar

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 Expect some consolidation 1243-1250 psychological level as technical analysis shows resistance

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 Resistance has seen Traditional MACD reflect possible retracement, look to buy on the dip if 1232-1225 is supported

Demand for U.S Treasuries rally highest since 2009 on expectations of Fed rate increase, which would have usually been an inverse reaction to the Gold market. The short term flurry of gold buying saw the price recover from 1183 to almost 1250 in 8 days due to the risk adverse market swaying to pessimistic global growth forecast, the lack of certainty on the rate increase by the Fed, as well as the Retail Sales data out of the U.S which showed a slowdown.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bullish122012251232124312501257

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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