Forex trading signals and analysis for GOLD – 10 Oct 2014

Forex trading signals and analysis for GOLD – 10 Oct 2014

Analysis:

Gold moved up from 1205 after FOMC minute released then continued to move up further to test 1233 – 1235 yesterday then closing around 1224.

Although the dovish tone in FOMC minute is bearish for USD and a good support for Gold but we think this is just a short term effect and the medium down trend is still intact.

We expect gold will continue to move up to day to test 1241 – 1243 zone.

XAUUSDDaily - 10 Oct 2014

Forex Trading Signals:

We will watch for signals to short Gold around 1241 – 1243.

Resistant zone:

– 1241 – 1243

– 1233 – 1235

Support zone:

– 1202 – 1205

– 1180 – 1182

ForexSignals247

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