Gold Prices May Rally Further off of Lows
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Trade Implications GOLD – Our Senior Strategist notes that Gold is at a potential crossroads as it enters a key cyclical turn window, and a close above $1286 would leave us focused on further gains. It enters the potential crossroads with retail short interest in XAUUSD up a noteworthy 34 percent on the week. A break higher in price alongside further retail crowd selling would help confirm an important Gold price low.
See next currency section: EURJPY - Euro at Critical Turning Point versus Japanese Yen
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.