FUNDAMENTAL GOLD TRADE IDEA 22 MARCH F
Main focus will remain on FOMC rate decision and speech today at 2PM- 2:30PM EST there the maket will decide what going to happen next ,
A very hawkish tone again or a break on rate hikes supporting the banking crises
- Expectations of a 25BP move for tomorrow's meeting as CPI remains far away from 2% macro goal and ECB giving some strong signals of confidence within the European banking sector.
Note that we would need to see a more aggressive tone from J Powell to see one sided dollar strength and gold weakness
-Most likely J Powell will be following a similar mandate to his testimony three weeks back.
-Keep an eye out for UK inflation overnight for signals towards
monetary policy decision in the upcoming meetings for BOE. - Expectations are also set of higher probability for lower volume/ volatility up until FOMC at 2PM EST.
Trade ideas for gold today,
If gold holds below 1939 we can see seller jumping in again targeting 1923 then 1912.
Anything to break 1945 we will be looking to buy ,
Deeper pullback sells @ 1963- 1965,
Pullback buys @ 1923
Deeper pullback buys @ 1912
A very hawkish tone again or a break on rate hikes supporting the banking crises
- Expectations of a 25BP move for tomorrow's meeting as CPI remains far away from 2% macro goal and ECB giving some strong signals of confidence within the European banking sector.
Note that we would need to see a more aggressive tone from J Powell to see one sided dollar strength and gold weakness
-Most likely J Powell will be following a similar mandate to his testimony three weeks back.
-Keep an eye out for UK inflation overnight for signals towards
monetary policy decision in the upcoming meetings for BOE. - Expectations are also set of higher probability for lower volume/ volatility up until FOMC at 2PM EST.
Trade ideas for gold today,
If gold holds below 1939 we can see seller jumping in again targeting 1923 then 1912.
Anything to break 1945 we will be looking to buy ,
Deeper pullback sells @ 1963- 1965,
Pullback buys @ 1923
Deeper pullback buys @ 1912
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