Gold on a decline along with dovish stance

Gold's general commentary: Very flat to Neutral Trading numbers since yesterday's early E.U. session, ranged on the Hourly 4 chart within roughly #1,792.80 - #1,815.80 zone which were the optimal breakout zones regarding Short-term. As long as the sequence lasted, made an basic Intra-day Neutral Rectangle Trading without any major changes, even though that Yields were Trading above the Daily chart’s Resistance for more than #8-Hour horizon. The Medium-trend remains fully Bullish but lately Technicals are easily distorted by Fundamental announcements, which are adding strong uncertainty on DX and Bond Yields - directly affecting Gold, however much expected uptrend was in extension as Gold speculators were defending Lower levels, preventing more serious decline as Gold is showcasing High durability. This is not fair Technical value of Gold nor an proper trend so I am forced to wait more and how market speculators will digest the Fed announcement, as side Swings are the new norm. Gold is strongly correlated with Bond Yields, but always-changing trend on DX (on High impact news) makes Gold (for now) difficult asset to Trade on


Technical analysis: Once more DX is being utilized as a safe-haven as the Stock markets and Gold are suffering significant losses. However as before, I am making use of the DX as my key indicator to suggest the underlying trend for Gold, which remains fully Bullish on the Medium-term and Bearish regarding more Short-term, as the DX priced in a solid Technical local High's today and engaged relief rally, even though Fed's conference had dovish tone which I was expecting (no hawkish surprises). As I determined the trend, every dip on Gold for me is excellent Buying opportunity and I will stick to this strategy for full Profit maximization, unless #1,752.80 mark breaks. I expect Gold to just maintain current Selling Intra-day momentum, so that by end of the week Gold should reach #1,752.80. Gold remains isolated within Hourly 4 chart's Descending Channel as the DX pulled upwards on this week’s macro events aftermath. Investors are probably pricing in the worst case scenario of those missing on their forecast. This doesn't change my Bullish sentiment with both Short-term #1,752.80 and Medium-term #1,815.80 + Targets. With Daily chart currently highly Bullish, it is important for December’s Monthly candle to close in green in order to avoid a Bearish two candle sequence (November was # -1.75%). These calculations are for my Short to Medium-term strategy for the next quarterly Monthly leg up or down (if the variance allows).


My position: I am satisfied with what's done currently as I have closed my Buying order (#1,796.80 entry point) near #1,812.80 session High's. I am awaiting chance to re-Sell Gold, and will have instant confirmation if market closes below #1,788.80 configuration. If done so, I will Sell Gold on spot towards #1,752.80 mark, as it is too late for me to Sell as Gold is already priced in more than #30 point decline on Intra-day basis.