XAU/USD (GOLD) Technical Analysis

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xauusd


Updated the:
04/16/2014
XAU/USD (Gold) : return below 1300 points !

Sentiment :
sentiment sur la parité AUD/USD
1315
sentiment sur la parité AUD/USD
1305
sentiment sur la parité AUD/USD

--- Follow up analysis ---
The Gold (XAU/USD) has launched yesterday a strong bearish rally after an output of its short-term uptrend channel (gray lines on the 1h chart).
By extension, the price reached 1285 points and has then rebounded to stabilize around 1300 points.
The price is currently on the lower band of its previous medium term bullish channel (purple lines).

I would advise traders to trade only short positions (sell) on gold as far as 1305 points is resistance.
A return below 1300 points and a breakout of 1295 points is expected should allow the price to reach the support at 1285 points.

In case of return above 1305 points, i would then advise traders to wait for a breakout of 1315 points before to trade long positions (buy) on gold.
Full analysis

Analysis published by Vincent, the 04/16/2014 at 10h40 GMT+2


Chart of GOLD - Timeframe 1H
GOLD Technical Analysis

Chart of the pair GOLD - Timeframe 4H
GOLD Technical Analysis

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