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29.06.201508:34 Forex Analysis & Reviews: Technical analysis of Gold for June 29, 2015

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 29.06.2015 analysis

Technical outlook and chart setups:

Gold is trading around $1,184.00 now after bouncing off from the level of $1,168.00. The metal should be poised to rally further higher towards $1,225.00 levels at least in the sessions to come. As depicted here, the metal has bounced off fibonacci 0.786 support and is expected to rally towards fresh swing highs. It is hence recommended to remain long for now with risk at $1,150.00. Immediate support is seen at $1,160.00 followed by $1,143.0 and lower. Resistance is seen at $1,205.00 followed by $1,215.00, $1,225.00/30.00, and higher respectively.

Trading recommendations:

Remain long for now, stop is at $1,150.00 levels, a target is open.

Good luck!

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