Gold update after FED meeting - sell on 2H - target 1307 $
The FED do not want to change main interest rates for the remainder of the year and have also revised their economic forecasts downwards, interest in gold's crisis protection has risen significantly. Falling US yields and a yielding dollar have made their contribution to the $ 1,320 plunge. At 2.52 percent, the ten-year US yield fell to its lowest level in 14 months. Now it will be interesting to see if the ECB will intensify or slow down this trend. At 1.45 pm her statement will be published.
On Thursday morning, the gold price presented itself with rising prices. By 7.45 am (CET), the most actively traded futures contracted for gold (April) by $ 16.70 to $ 1,318.40 per troy ounce.
Indicators showing soon down movement / correction to at least 1312 $ - MACD baselines going to cross bearish 7 RSi retraced from trend line
Wait for clear confirmation before entering this trade
clear confirmation = close of 3 candles under drawn trend line
On Thursday morning, the gold price presented itself with rising prices. By 7.45 am (CET), the most actively traded futures contracted for gold (April) by $ 16.70 to $ 1,318.40 per troy ounce.
Indicators showing soon down movement / correction to at least 1312 $ - MACD baselines going to cross bearish 7 RSi retraced from trend line
Wait for clear confirmation before entering this trade
clear confirmation = close of 3 candles under drawn trend line
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
