XAU/USD (gold) : Take up of the medium term bullish trend
--- Follow up analysis ---
The pair XAU/USD (Gold) just validated the breakout of 1780 points, offering a new buy signal. The price is still moving on the upper band of its medium term bullish channel (purple lines).
We continue to advise long positions as far as 1760 points is support. A pullback on 1780 points sta possible before a new bullish wave. The movement should pursuit towards 1800 points if 1790 is broken.
In case of return below 1760 points, we will advise to wait the breakout of 1760 points to trade short positions.
NB: The gold could also be trade according to 1770 points (long above and short below) for traders with a more agressive strategy
Analysis published by Vincent, the 10/01/2012 at 11h30 GMT+2
Chart of the pair XAU/USD (Gold)- Timeframe 4H
Chart of the pair XAU/USD (Gold)- Timeframe 1H
|XAU/USD (Gold) Live Chart - Timeframe : 1h|
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