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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Gold Strongly Bullish!

Gold is trading in the green at $1,741 after testing a broken dynamic resistance. The price may continue to increase if the US Dollar resumes its depreciation in the short term.

The risk-off sentiment dominates the markets in the short term, that's why the safe-haven assets are very attractive these days. The yellow metal ignored immediate resistance levels signaling strong buyers.

Gold registered an approx 4% growth since last Wednesday and it could extend it if the price passes above the immediate high.

XAU/USD Seems Unstoppable!

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XAU/USD is trading above the median line (ML) of a major descending pitchfork and it could approach the minor ascending pitchfork's median line (ml) again.

A new higher high, bullish closure above the $1,745 high could signal further growth towards $1,755 static resistance. The ascending pitchfork's median line (ml) represents a dynamic resistance. Jumping and stabilizing above the median line (ml) could validate more gains ahead.

Gold Tips & Forecast!

A valid breakout above $1,755 validates a larger upside movement and brings a new long opportunity.

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