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Farooq

Technical Analysis – XAUUSD _ 12-03-2019

HomeTechnical AnalysisTechnical Analysis – XAUUSD _ 12-03-2019
12
Mar
Technical Analysis – XAUUSD _ 12-03-2019

The possible bearish scenario remains intact as long as the trading remains below 1305 (23.6% Fibonacci) to be the first target at 38.2% Fibonacci around 1275 and the breach may press the gold to the next support around 1250-1240.

A breach of 1305 and stability above might be enough to end the current correction and it is possible that the price will resume its bullish trend to face 1345 again as the first target, which could push the pair to the next resistance at 1365.


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