ALERT looks like good time to get into gold, weak dollar, still can’t break out of channel see chart below
Despite a USD in retreat across the FX spectrum after disappointing housing data and oil shooting up, gold still can’t break out of its steep down channel, with the 61.8% Fib retracement providing additional resistance along with the upper line of the channel.
GOLD DAILY AVA FX CHART 17:38 GMT
DISCLOSURE: NO POSITIONS
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