The pressure on gold has increased after a breakthrough of the $ 1240 support level

September 12, 2014

Sell on rebound from 1240 level with 1180 target. Stop loss = 1270.

Reason for the trading strategy.

In September, against the background of a possible reduction by 10 billion dollars in the program of QE3 asset purchases in the United States, the world's reserve currency has noticeably increased its weight in the FOREX market. We believe that after an adjustment to the resistance level of $ 1240, the price of gold will continue its further decline.

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