DarrenWells
Long

XAU/USD LONG 28/3/14

FX:XAUUSD   Gold/U.S. Dollar
92 0 1
As well as just kissing the 200 MA, the XAUUSD             has bounced off the long term CCI support line twice now. Everything seems to be pointing to a reversal with any missed estimates in the news announcements out of the US this afternoon acting as its catalyst for the bounce.

US News to consider 28/3/14 (all times GMT             ):

12:30 - USD Personal Income             (Feb)
12:30 - USD Personal Spending (Feb)
12:30 - USD Core Expenditure YoY (Feb)
13:55 - USD University of Michigan confidence (March)

My stop and limit prices are all focused around the Fibonacci retracement:

Limit 1 (0.382) - $1311
Limit 2 (0.236) - $1342

Stop (0.500) - $1285

-Darren Wells





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