Gold/US Dollar broke resistance on 16/08/2013

primetrader

Trader
Jul 30, 2013
10
0
22
www.primetraderfx.com
Trend Analysis
Gold / US Dollar broke above the upside resistance level of 1,354.70 today. This is a bullish sign. This previous resistance level of 1,354.70 now provide downside support.
Elliot Wave Analysis
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bearish wave 2
normal amplitude (21%): bearish wave 1
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