TheMuser

Gold position at the FOMC announcement.

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
1
I have a hunch that we will end up in this yellow triangle at 2:00 EST when the FOMC announces their rate decision. We have two long-term trend lines converging at that point in time. While I seriously doubt that the FED will raise rates this week, I can't help but feel that this is already factored in to the price of precious metals and the USD. It very well may the comments that Janet Yellen makes afterwards that will cause gold to take its new direction, whether it be up or down. Any thoughts?
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