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17th Oct 2014 XAU/USD Gold Analysis

17th 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 1243 range happens to be the support in May 2014 and 38.2% of the downtrend retracement could be a price resistance for Gold for the days to come

A brief breakthrough of the 200 moving average did not rally the price of gold towards 1250 and higher, and the mild pause is a cause for concern over the Fed's decision A brief breakthrough of the 200 moving average did not rally the price of gold towards 1250 and higher, and the mild pause is a cause for concern over the Fed’s decision

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 A downtrend line forming potentially a bearish formation : the descending triangle, as 1243 resistance holds firm with 1235 the support to breakthrough

Jobless claims decreased by 23,000 to 264,000 in the week ending Oct. 11, as reported by the Labor Department yesterday in Washington.. This is the lowest figures recorded since April 2000.  The four week average of claims, a less-volatile measure than the weekly figure, declined to 283,500, the lowest since June 2000, from 287,750 in the prior week. Gold subsequently retested 1243 before falling lower for the day in stark contrast to a day before. Breaking 1235, we may see gold attain 1230, 1225 and 1220 range again

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight bearish / Near resistance122512301235124312451250

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