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18 Sept 2014 XAU/USD Analysis

Amandeep Sonewane | Sep. 18, 2014

Gold, XAUUSD, XAU/USD, Technical analysis, gold price Gold falls towards weekly supporting trendline

Gold, XAUUSD, XAU/USD, Technical analysis, gold price Possible exhaustion at 1225 yet again?

Gold, XAUUSD, XAU/USD, Technical analysis, gold price Resistance at 1225-1230 may push Gold prices even lower

FOMC Economic projections earlier today sees GDP growth to be around 2.6% by 2015, plus a rosy picture for the jobs market and GDP in the U.S, sparking sell offs for Gold towards the month's low of 1225 yet again. MACD shows likely continuation of downtrend and fulfills the fundamentals as gold prices are usually in response to Dollar strength.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish / near support
1208
1215
1220
1225
1230
1240
Reversal to long at 1215-1208
1240

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