GOLD 4H: The Fed Rally

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             has strengthened against most currencies, following the Fed interest rate decision. The rally against the USD has been particularly impressive, given the US dollar's weakness in response to the "no-rate-hike" decision. Now, I wonder, if we're going to see a correction down to 1125 or is it going to be a short breather, before price of XAUUSD             continues higher to the blue median line . It may not be an easy ride though, because there is a broad resistance area up above, spreading between 1135 and 1150.
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Gold is probably not done falling until it meets demand at the support area.
alex.a ForceFollower

Exactly ~ ^_^
+1 Reply
Thanks for your comment. These things work sometimes very well... :-)
alex.a ForceFollower
What do you see XAGUSD?
Not very clear, but no matter what, I could see no reason to go long silver (OK., there's a higher low, but it's all we have for the bullish reading). I'd be rather looking to short, if not here, then a bit higher. If current swing high holds, I'd looking to TP @ 14.86.
Is this parallel trendline going to provide resistance to the rising price of gold?

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