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8 Oct 2014 XAU/USD Gold Analysis

8 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 Gold is back above 1200 and supported at 1206, almost a carbon copy of the movement on 31st Dec 2013 / 1 Jan 2014

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 Further retest of support at 1207 and/or resistance at 1215-1220 (at the downtrend channel upper restraint) we are likely to see Gold price consolidate ahead of the day’s trading as no major data are scheduled for today, barring the release of the meeting minutes for the FOMC for their Sept 16-17 meeting.

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 H4 charts show overbought signals while the H1 charts shows a likely exhaustion of the bullish trend with possible retracements.

Gold looks set to recover losses even as the market factors in the likelihood of rate increases in the U.S, with the uncertainty not in favour for some traders as they flock to Yen and Gold alternatives.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bullish118912001206121712251232

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