XAU/USD (Gold) analysis of the week (4h candlesticks)

By IBTimes Staff Reporter | January 05 2010 5:18 AM

The parity just got out of its bearish channel. Currently, the price is on the fibonacci retracement 50% of the last bullish movements towards 1125. A break out of this level will offer a buy signal on the parity. We will then advise to trade only positions as far as the price will be above 1100. As far as 1125 is broken, we will stay neutral on the parity.

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