Fed raises interest rates, what's the trend for Gold?
Gold technical analysis :
- Gold hits the bumper 1963 - 1967 Frame H1
- The elliott wave calculation has completed 5 waves and started making the next wave A-B-C
- Fibonanci touch partition 0.786 clock is stopped , will shape to downtrend back to 0.382 partition
- Combined with the H1 frame Down theory, gold will have a deep decline and the Bears will win this week
The Fed is close to taking a stance on further rate hikes and remains hawkish about whether to raise rates further this year.
This puts a lot of pressure on investors who choose gold as a safe haven
We will have to wait for information from the Fed and the Fed President will speak this week
- Gold hits the bumper 1963 - 1967 Frame H1
- The elliott wave calculation has completed 5 waves and started making the next wave A-B-C
- Fibonanci touch partition 0.786 clock is stopped , will shape to downtrend back to 0.382 partition
- Combined with the H1 frame Down theory, gold will have a deep decline and the Bears will win this week
The Fed is close to taking a stance on further rate hikes and remains hawkish about whether to raise rates further this year.
This puts a lot of pressure on investors who choose gold as a safe haven
We will have to wait for information from the Fed and the Fed President will speak this week
Trade active:
✔️ TP1: 1957
✔️ TP2: 1952
❌ SL: 1970