XAUUSD Daily Tech Analysis (08.08.2014) Training

FX:XAUUSD   Gold Spot / U.S. Dollar
300 0
Gold , in Daily Tech Analysis Training with Ichimoku & Fibonacci projections look like this:

The XAUUSD pair reacted from KUMO support. The pair breached Tenkan Sen on Wednesday. Today it tries to Breaches Kijun Sen too.

MACD turn bullish and RSI too.

Fib projection from 1242 to 1314 has the 0.764 (1314) as a resistance next level, exactly where EMA 200 now supports.

I am a little cautious for a long view because of the long term resistance line and the Chikoun Span resistance.

If Gold breaches (on Monday) the resistance line and stabilizes above it, then long for 1337 - 1395 and more, but if it declines from the resistance red line a little more consolidation into the long term triangle are possible.

Be cautious.
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