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Gold Price Forecast: XAU/USD Battle Lines Drawn
Gold prices are down nearly 1.9% off the monthly high with XAU/USD paring a portion of the mid-August rally. The stage is set heading into the FOMC rate decision this month and its make-or-break for the bulls as gold tests former support. These are the updated targets and invalidation levels that matter on chart the XAU/USD weekly technical chart. Technical Outlook: In last month’s Gold Weekly Price Forecast we noted that XAU/USD was, “testing a pivot zone here at multi-month uptrend support with the August opening-range taking shape just above- look to the breakout for guidance.” The focus was on a reaction ... (full story)