FX.co ★ Gold Breaks Through 1750.00 Levels...

Technical Outlook and Chart Setups:

After the Fed's announcement about QE3 last night, the yellow metal has raised through resistance at 1750 levels. The next major resistance comes at 1800.00 level and the bulls seem to be targetting it before pulling back. Nevertheless, after having stopped at 1750.00, it is humbly recommended to wait for a clear pullback signal. It remains a fact that nothing goes up or down in a straight line, for the moment though, bulls have space to hit 1800.00 level before reversing sharply.

Trading Recommendations:

Flat for now.

Good Luck!