The XAUUSD price drop hit the morale of the bullish
At the end of last week, Fed funds futures were discounting an 81% chance of a 25-bps rate hike by June 2022; those odds have now risen to 97%.
The prospect of faster tapering and a rate hike sooner than otherwise expected is proving to be beneficial for the US Dollar – but hazardous for both US equity markets and gold prices. Breadth has been poor in US stock markets over the past week or so, and the latest turn in speculation around the Fed is a detrimental development near-term.
The prospect of faster tapering and a rate hike sooner than otherwise expected is proving to be beneficial for the US Dollar – but hazardous for both US equity markets and gold prices. Breadth has been poor in US stock markets over the past week or so, and the latest turn in speculation around the Fed is a detrimental development near-term.
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Calculate the number of pips to take profit on a long position. Also consider whether the price will be blocked and retraced to the grey area.
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Potential decline
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Prices down and within the grey range
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Stay neutral, for now. You need to follow up on this idea to be the first to know if I change my mind.
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2H Charts
Set up a trading plan
Set up a trading plan
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Hit the target
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Waiting for the next entry
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XAUUSD price is in a consolidation range
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Trade closed: target reached:
