Gold:
Today is FOMC and There is 90 % market consensus that there will be no interest rate increase today. However the FED chairman Powell press conference will be what market will be watching closely. Hawkish or Dovish it is to be seen. Yesterday we saw US stocks (NASDAQ, DOW, S&P) going down in pressure of FOMC & FOMC speculation.
Keep your trade at minimum level. If u ask me. The interest rate is about to pause and one of last interest rate is left. Next year interest rate loosening cycle will start. To me DXY will make a bearish correction this week. I will be seeking to buy Gold on weakness . The targets I am aiming is 1952 within this week time.
I have identified resistance on Daily chart at 1944 and 1953. Support levels are 1915-1920.
Good Luck and do Comment on the idea and Odds
Today is FOMC and There is 90 % market consensus that there will be no interest rate increase today. However the FED chairman Powell press conference will be what market will be watching closely. Hawkish or Dovish it is to be seen. Yesterday we saw US stocks (NASDAQ, DOW, S&P) going down in pressure of FOMC & FOMC speculation.
Keep your trade at minimum level. If u ask me. The interest rate is about to pause and one of last interest rate is left. Next year interest rate loosening cycle will start. To me DXY will make a bearish correction this week. I will be seeking to buy Gold on weakness . The targets I am aiming is 1952 within this week time.
I have identified resistance on Daily chart at 1944 and 1953. Support levels are 1915-1920.
Good Luck and do Comment on the idea and Odds