sugardaddyFED

Gold AB=CD corrective rally

FX:XAUUSD   Gold/U.S. Dollar
44 0 3
Entry@ 1177.5 +/- 1 (100 ma)
Stop@ 1173.5 (slightly below 1175 which was previous breakout zone)
Target@ 1191 (previous high)
Target@ 1201 (this is 100 dma which often prove strong resistance)
Target@ 1207 (end of the CD)

US dollar             rally this morning was due to RBNZ cut and there is a gap to be filled by the dollar. If the gap filled and dollar continue its sell off (possibly due to poor retail sales) then gold             has a chance to rally.

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