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    XAU/USD: technical analysis on 08.10.2015

    On the daily chart, the pair is falling along a descending channel currently between the levels of 1288.75 and 1078.36, and seems to be forming a contracting triangle. The price remains below its long-term EMA130, which is directed downwards, but above the medium-term EMA65, which is about to turn upward, which supports the idea that the pair is in consolidation mode. 

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