XAU/USD : 1700 points are giving support, take up of the bullish trend?
--- Follow up analysis ---
The gold has just validated this night an exit of its short term bearish channel (pink lines in h1) and also a return above 1720 points, offering a buy signal.
We still advise to trade the pair outside the range 1710/1720 points :
- Only long positions above 1720 points. The breakouts of 1730 and 1740 will both give a new buy signal
- Only short positions below 1710 points. The breakout of 1700 points will give a new sell signal and will open the way towards 1675 points.
Analysis published by Vincent, the 11/19/2012 at 11h00 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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