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Apr 19
XAU/USD(Gold) Analysis - June 10, 2011: Testing the Return Level 1553.20, Potential For Correction
Friday, 10 June 2011 05:14

Yesterday: Open 1536.90 High 1549.20 Low 1532.90 Close 1543.50

Yesterday movement Gold high low range in the range of 1600 pips. Towards the European session begins Gold bullish movement and try to pick up into the channel price but to no avail.

Currently, the movement of gold in bullish conditions tend to be sideways.

There is no focus on economic data today for XAU / USD.

20110610_xau

If still experiencing continued increases then the price will open up opportunities to a level of 1553.20.

We recommend that if the price decline continues a trend line through the diagonal then opened up opportunities to a level of 1535.00 and 1530.70.

Prices shown on the graph H1 line MA05 and MA10 in bullish conditions intersect

While the Stochastic indicator indicates there are still opportunities to penetrate a bullish long diagonal trend line in the Stochastic indicator.