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11 June 2015: XAU/USD: general overview

XAU/USD: general overview





XAU/USD has been growing for 3 days in a row due to the technical correction of a March trough at 1162.57. The rate is additionally supported by the general weakening of the dollar that has started since the beginning of this week. Yesterday, gold rose in price by another $9.

Out of today's macroeconomic statistics able to affect the XAU/USD rate, pay attention to US retail sales (15:30 GMT 3). The indicator is expected to grow.

The MACD indicator points to buyers' growing activities on the H4 chart. The MACD histogram is situated in the positive zone and its volumes are increasing greatly. Bollinger bands are directed upwards signalling the continuation of the upward movement.

Resistance levels: 1192.25, 1197.00, 1204.18, 1209.00.
Support levels: 1185.35, 1180.20, 1175.00, 1169.20, 1162.34.

This website/communication is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. It has been prepared by Mayzus Investment Company Limited without taking into account any particular person's objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Past performance is not indicative of future performance. The future value of your investment may rise and fall with the changes in the market.






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