ForceFollower

GOLD 4H: The Fed Rally

FX:XAUUSD   Gold / 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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Is this parallel trendline going to provide resistance to the rising price of gold?
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alex.a ForceFollower

Exactly ~ ^_^
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Thanks for your comment. These things work sometimes very well... :-)
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alex.a ForceFollower
What do you see XAGUSD?
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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.
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Gold is probably not done falling until it meets demand at the support area.
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