Gold treads water before FOMC rate decision

FX:XAUUSD   Gold / U.S. Dollar
34 0 1
"U.S. dollar interest and option strikes at $1,150 should weigh upon gold             over the next couple of days."
- MKS             Group (based on CNBC)

Pair's Outlook
Prices of the bullion have been largely unchanged in the past three trading days, even though the metal registered slight losses during each of those 24-hour periods. Short term projection remains neutral, as long as gold             holds below 1,167/70 (weekly PP/Aug high) or above 1,158/55 (20-day SMA/weekly S1). On the other hand, US durable goods data may provide the positive impetus in case of disappointing numbers. Any extra volatility should be created tomorrow when the Fed will make an interest rate decision.

Traders' Sentiment
SWFX market sentiment with respect to the precious metal remained broadly unchanged for the past four weeks. Moreover, the share of bulls is completely flat at 52% already for five working days, meaning that their advantage still remains very negligible right now.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out