Forex trading signals and analysis for GOLD – 16 Oct 2014

Forex trading signals and analysis for GOLD – 16 Oct 2014

Analysis:

Gold rocketed to 1250 after bad US Retail Sale data and closed the day above 1237 but still below 1241 – 1243. There are more signals showing that the global economy is not good as expected, and this is good news for Gold. Short term trend is now turn bullish and Gold may move up to 1270 zone.

XAUUSDDaily - 16 Oct 2014

Forex Trading Signals:

To trade in line with existing trend, we will watch for signals to buy Gold around 1230 zone.

Resistant zone:

– 1260 – 1262

– 1249 – 1253

– 1241 – 1243

Support zone:

– 1228- 1232

– 1220 – 1224

ForexSignals247

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