XAU/USD : 1700 points are giving support, take up of the bullish trend?
--- Follow up analysis ---
The pair XAU/USD (gold) has finaly found support in 1675 points (former level of resistance in August). The rebound has been powerful and allowed a return above 1700 points and 1720 points (buy signal)
We advise to trade the pair outside the range 1710/1720 points :
- Only long positions above 1720. The breakouts of 1730 and 1740 points will both give a new buy signal
- Only short positions below 1710. The breakout of 1700 will open the way for a new test of 1675 points.
Analysis published by Vincent, the 11/07/2012 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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