FxSaint

GOLD - Value for MONEY (fundamentally & Technically)

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
737 0 12
*Fundamentally speaking, since Janet Yellen has successfully fooled yet again regarding the rate hike its time for USD to get weaker until she really start the rate hike & stop the bullshits. Janet has said that there is live possibility of rate hike in December but Fed is not decided yet since they will be waiting for more data on economic progression. Come on, if you will be knowing whether to hike the rate or not in six week from now. The economy is not going to give you any better data in six week time. So since the Fed has not decided to hike the rate, they are just keeping people on hope. But the real hike will come after the first quarter of 2016. Technically we can see GOLD             is in oversold territory & when ever it had reached that territory it had atleast made an effort to take a breather. By the past data, the value we can set to lookout for long is 25bars, 35days & around 8.XX% rise in value. The structive around 1073 is going to be important level for longs. Break of this I m going to sit out until another clear opportunity yells on my face.

*I m not fundamental expert but this is my personal view about rate hike after hearing what Fed has to say about the same. Please do your independent research on rate hike before you make any trading decision based on the same.
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