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Technical Analysis
Technical & Fundamental Analysis on one of the Most traded pairs
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[QUOTE="Avinash, post: 27577, member: 14722"] [IMG]http://i41.tinypic.com/2ez73p4.png[/IMG] Gold has been continuing to create multiple entry and exit points as continuing to flow in a downtrend consolidating range. [B][U]Blue lines[/U][/B] showed an uptrend which was broken on 13th April. The [U][B]2 red lines[/B][/U] indicate that gold has been moving in a parallel range downwards also the [U][B]moving average 200 purple line[/B][/U] acts as a resistance along with the 2 red lines. [B][U]Green lines[/U][/B] indicate a strong downtrend support created currently as it had been moving within such range as it shows downtrend triangle. The [U][B]black bubbles[/B][/U] indicate counter trend position opportunities to enter the market for profit and [B][U]red bubbles[/U][/B] indicate a breakout from trend position to enter the market for profit. [/QUOTE]
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