Updated the: 06/11/2012
XAU/USD (Gold) Technical Analysis comments :
Sentiment : 1600 1580
The pair XAU/USD has faked on friday the breakout of 1580 points and is now back on 1600 points as resistance. The pair is moving above the upper band of its medium term bearish channel (purple lines). Indicators are mitigated. We are neutral between 1580 and 1600 points. We advise to wait an exit of this range to take position: - Long above 1600 points. The breakout of 1620/1640 points will both give a new buy signal - Short below 1580 points. The breakout of 1560/1540 points will both give a new sell signal.
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom in :
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom out:
XAU/USD (Gold) Live Chart - Timeframe : 1h