InstaForex - Analytics

    InstaForex

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    Gold technical analysis for March 17, 2016 2016-03-17

    Gold price bounced strongly upwards to our target of $1,245-50 and then, broke even higher after the FOMC meeting last night. Price has reached the 61.8% Fibonacci retracement of a decline from the recent high at $1,283. Bulls need to be very cautious as a bearish reversal is likely to happen.

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