Wednesday 27th August, 2014
Intraday Support & Resistance Levels
Technical Indicator Signals
Currency Pair Spotlight
XAUUSD: The escalating battle in eastern Ukraine helped Gold rebounding to $1290 per ounce in the early European trading session. As we have mentioned previously, the $1270 is a strong support level – the bounce was in line with expectations. It then lost most of its gains over the rest of the day. Geopolitical fears were eased as Israel and Hamas finally reached an agreement on a Gaza truce and bright U.S. data. $1270 will be critical in the next few days as the technical buying may not sustain. As long as the downward trend has not be broken, the mid-term outlook of Gold is still pessimistic.
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Today’s Key Economic Calendar Events
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