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2 Mar 2015
Gold set to accelerate towards $1232 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Dhwani Mehta, expects XAU/USD to push higher towards 1232 levels, with technicals supporting the bullish view.
Key Quotes
“XAU/USD is strongly bid above 100-DMA located at 1215.88 levels and is set to retest daily highs at 1223.24 levels and beyond that 20-DMA placed at 1225 levels.”
“The gains in the pair are likely to be accelerated above 20-DMA, pushing the pair higher to test 50-DMA located at 1232 levels.”
“The daily bullish RSI at 47.29 levels seems to be inching towards the bullish territory, signalling further room for upside.”
“Overall, a generalized intraday uptrend persists as the break out on the daily chart is expected to boost gold prices, despite a broadly higher US dollar. Moreover, the pair remains supported so long as the 100-DMA is breached.”
Key Quotes
“XAU/USD is strongly bid above 100-DMA located at 1215.88 levels and is set to retest daily highs at 1223.24 levels and beyond that 20-DMA placed at 1225 levels.”
“The gains in the pair are likely to be accelerated above 20-DMA, pushing the pair higher to test 50-DMA located at 1232 levels.”
“The daily bullish RSI at 47.29 levels seems to be inching towards the bullish territory, signalling further room for upside.”
“Overall, a generalized intraday uptrend persists as the break out on the daily chart is expected to boost gold prices, despite a broadly higher US dollar. Moreover, the pair remains supported so long as the 100-DMA is breached.”