- FED comes out and surprises big the markets. Why big? IMO the markets have priced the two rate hikes in.
- 1993 has to be taken out.
- 111.80 sh U/J is taken out. Why the yen? Well just look the correlation from the past decades between gold and U/J and you will see why.
so be patient and try to position your self safely before FOMC on Thursday...
So , I suppose if we get Brestay gold will be slammed down to 1240sh. From there I will be looking to buy due to the main fundamental driver, which is bearish USD. If we get Brexit then the sky is the limit. In case you wanna position yourself for Brexit event, buy within the demand zone at 1275sh.