Commentary of the XAU/USD parity:

The gold failed to break the resistance at 1125 (fibonacci retracement 50%). A break out of this level will offer a buy signal. All indicators are bearish but we advise to trade only long positions as far as the price is above 1100 (fibonacci retracement 61.80%). A break out of this level will however offer a sell signal but we will then stay neutral on the parity.

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