forex_meister
Long

Gold ready to go back up

FX:XAUUSD   Gold Spot / U.S. Dollar
132 0 1
XAU/USD             has been going sideways for a few days now. Even after Yellen's speech which saw USD/JPY             break the 104 barrier, did not have a major effect on XAU/USD             .

What does this mean ? XAU/USD             found support at 1273 - 1275 which proved to be strong enough to stop the downward spiral.

As can be seen from the D1 timeframe, this pair has bottomed out and are ready to go back up. Resistance / TP to be found at 1288, 1295 and 1302.
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