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XAUUSD Gold Overview and Technical Analysis

Pullbacks are buying opportunites The first target 1375.

XAUUSD Gold Overview and Technical Analysis

Published 04-15-2018

Gold made several failed breakout attempts since its multi-year high reached in 2016. We see that the gold prices are still in a solid uptrend, creating higher lows along the way.

That is true: The market is struggling, but it looks like it wants to grind higher

Geopolitical instability will continue to support gold as a safe-haven asset.

Fundamentally, we do not see any logical reason to sell GOLD.

As we have mentioned in our previous forecasts, we remain bullish. Our first midterm target was 1361 and it was tested last week.

Our Next Target is 1375 as seen in the chart. A bullish flag formation is forming as well.

We just need a daily closing above 1360. The real bullish game will start as soon as XAUUSD makes a daily closing above 1360.

Our Midterm Targets: 1375, 1408, 1440 and 1476 ( The target of the bullish flag formation )



Pullback Levels To  Buy: 1335 1328 1324

The fresh GOLD trade setup will be published for premium members.

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

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XAUUSD GOLD:   Forex Trading involves risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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