Gold is forming a wedge after breakout from the value zone. From yesterday GOLD is consolidating between 1710 to 1720 level. Today also we may have smaller candles between these levels. FOMC will give the momentum for breakout.
I hope Dollar gets much stronger after FOMC. But technical analysis shows GOLD should also make highs upto 1742 by end of month. So after FOMC we will see stop loss hunting upto the 1694 level. So be ready to buy the lows instead of waiting for SELL opportunities.
The important levels today 1694-1704-1714-1730-1742-1772
This is very sensitive level. So dont SELL with big TP. Wait for lows and BUY between 1694-1704
BUY 1694 SL 1686 TP 1728
BUY 1704 SL 1698 TP 1720
SELL 1742 SL 1748 TP 1730
SELL 1772 SL 1782 TP 1746
I hope Dollar gets much stronger after FOMC. But technical analysis shows GOLD should also make highs upto 1742 by end of month. So after FOMC we will see stop loss hunting upto the 1694 level. So be ready to buy the lows instead of waiting for SELL opportunities.
The important levels today 1694-1704-1714-1730-1742-1772
This is very sensitive level. So dont SELL with big TP. Wait for lows and BUY between 1694-1704
BUY 1694 SL 1686 TP 1728
BUY 1704 SL 1698 TP 1720
SELL 1742 SL 1748 TP 1730
SELL 1772 SL 1782 TP 1746