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[QUOTE="AlexanderLiteForex, post: 48403, member: 22090"] [b]XAUUSD: gold regains lost positions[/b] [b]1. Current trend [/b] Gold has grown since the beginning of this trading week, steadily consolidating above the level of 1300.00 USD per troy ounce. Gold is a traditional safe haven against risks of inflation and weakening in the national currencies. Precious metal will in the advantageous position if governments continue to pursue monetary easing policy. Amid victory of the ruling party in Japanese election and due to comments by Ben Bernanke, gold has strengthened positions and is likely to continue growth. Technical indicators show that gold has all chances for further rise. All three moving average lines are directed upward. The signal line and histogram of MACD indicator are in the positive zone. Stochastic is in the oversold zone, both of its lines are directed downward, suggesting a chance of correction. [b]2. Levels of support and resistance[/b] Pushing off from resistance level of 1340.00, the price is moving down to the level of 1321.00. Next support level is 61.6% of Fibonacci. The main target of the “bulls” is the level of 1370.00, which coincides with the level of 38.2% Fibonacci. [b]3. Trading tips [/b] At the moment, the pair may experience downward correction to 1321.00 or lower up to 1300.00. It makes sense to place limit buy order at these levels. Buy orders can be placed if gold exceeds the level of 1340.00. [img]http://www.liteforex.com/uploads/other/1cadc78a6bbd6a122c5f96e581ff79ab.png[/img] [i]Ilya Lashenko Analyst of LiteForex Group of Companies[/i] [/QUOTE]
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