FXWIREPRO: Gold Breaks Key Resistance at $1242, Intraday Bias Remains Bullish

FXWIREPRO: Gold Breaks Key Resistance at $1242, Intraday Bias Remains Bullish

11 April 2016, 05:45
Roberto Jacobs
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FXWIREPRO: Gold Breaks Key Resistance at $1242, Intraday Bias Remains Bullish

  • XAU/USD is currently trading around $1250 mark. 
  • It made intraday high at $1251 and low at $1239 levels. 
  • Intraday bias remains bullish till the time pair holds key support at $1242 marks. 
  • A daily close above $1252 is required to take the parity up towards $1272 marks. 
  • On the top side, key resistances are seen around $1252, $1262 and $1267 levels. 
  • Alternatively, a sustained break below $1238 will drag the parity down towards key support levels at $1222, $1214, $1202 and $1190 marks.

We prefer to take long position in XAU/USD at $1248, stop loss $1238 and target $1268 marks.

The material has been provided by InstaForex Company - www.instaforex.com



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