FX:XAUUSD   Gold Spot / U.S. Dollar
547 3 9
- Fundamental Analysis
Gold             is still under suffer sell-off.
The main reason is FED will not change their monetary policy , continue unwinding QE3 : tapering each Minutes until finishing the QE3 before 2014 Fall, and this would weight on GOLD             price.

We have FOMC Minutes on Wednesday 30, April, and I surely FED would taper by 10bln. This would prevent anyone holds LONG position of Gold             in the long term.

The big sell-off last Wednesday suggests that investors are still very cautious about GOLD             , they don't dare to hold LONG position in the long term.

Next week, I believe the Greenback will come back its strength. Last Thursday, we saw 10 year T-Bond             jump by 9bp to 2.73%, and this would benefit for the Greenback, encourage investors to buy US dollar             . Hence, I think gold             would fall down.

One more thing, I don't trade gold             , I use Gold             price to predict forex because Gold             is anti dollar, when gold             increases, usdollar             decreases and vice versa; moreover, gold             also stick to Loonie, Aussie, Swiss franc             , and Euro             . If we know the move of gold             , we could forecast those currencies.
-Technical Analysis;

Look at on the 1H chart. We see a range form after the big sell-off on last Wednesday. Price now hold above 1293.2 level.

I think next week , this support would be crossed through to reach to 1284.82 level. The stop loss should be at 1304.28 : upper line of the range.

great chart, you are absolutely correct.
Sforex fuguilin
It broke my target
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