GOLD seasonally moves higher throughout December and if the FOMC disappoint after hiking rates on Wednesday we could see prices rally in line with the seasonal move.
Price is currently sitting at previous structure highs and 20EMA where we could see a further impulse leg. The market may be subdued until the announcement so patience will be required here. Looking at the lower timeframes if the 4hr timeframe can push higher and form higher highs in line with the daily timeframe we have the opportunity for a better risk to reward profile.
Price is currently sitting at previous structure highs and 20EMA where we could see a further impulse leg. The market may be subdued until the announcement so patience will be required here. Looking at the lower timeframes if the 4hr timeframe can push higher and form higher highs in line with the daily timeframe we have the opportunity for a better risk to reward profile.