InstaForex - Analytics


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    Technical analysis of Gold for June 10, 2016 2016-06-10

    Gold price continued its upward movement towards a new higher high at $1,272.50. The trend remains short-term bullish as long as price is above $1,257. Gold is expected to pull back towards $1,245 at least and then resume its upward move.


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    Red line - short-term support

    Gold price is trading above the Kumo (cloud) confirming a short-term bullish trend. Price has also broken above the downward sloping black trend line resistance. Now I expect a pullback to test at least the 38% Fibonacci retracement.


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