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Gold could extned its rebound, after holding above 1046

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 22, 2015.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    XAUUSD Daily 22-12-2015 06-08-43 ص.jpg

    The gold which has no yield to represent to its holder came under pressure following the Fed's decision to have new target range for the federal funds rate at 0.25% to 0.5% up from zero to 0.25%.

    But XAUUSD could hold above $1046.08 per ounce which has been reached on this Dec. 3 to be its lowest level since Jan 2010.

    The Gold bouncing up to $1081.46 drove its daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility up to have its main line in the overbought region above 80 reading 80.358, while its signal line is still in the neutral region reading now 59.042.

    The falling of $1046.08 can expose the gold to rising of the downside momentum causing stop buying orders can lead to testing $1000 psychological level.

    Important levels: MA50 @ $1000.71, MA100 @ $1114.15 and MA200 @ $1144.87


    S1: $1046.08

    S2: $1000

    S3: $904

    R1: $1089.70

    R2: $1097.86

    R3: $1110.94

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid
    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143
    Website: www.Trade-24.com

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