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    XAU/USD: Fibonacci analysis on 14.01.2016

    A fall continuation is likely.

    On the 4-hour chart, the price is testing the level of 1086.59 (38.2% correction), near its crossover with the 38.2% arc. Its breakdown would allow the price to fall to 1081.80 (crossover with 61.8% fan line), 1079.72 (50% correction) and 1072.84 (61.8% correction). If the price cannot overcome the level of 1086.59, a growth along the 38.2% arc towards 1090.30 and 1095.05 (23.6% correction) can start.


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