Hello traders, Gold is currently at a very interesting level.
Strong moves could happen after the FOMC event which is coming
up in a few hours.
📌You can notice a price channel in the daily chart and price
is currently at the top of the channel.
📌You can also see the formation of a bearish daily candle in the
100-day exponential moving average level, which is crucial.
📌If the FOMC statement is hawkish, it will lead to USD strength,
thereby a sharp decline in Gold price would take place.
My recommendation is not to rush with your trades. Instead, it would
be better to wait and observe.
Strong moves could happen after the FOMC event which is coming
up in a few hours.
📌You can notice a price channel in the daily chart and price
is currently at the top of the channel.
📌You can also see the formation of a bearish daily candle in the
100-day exponential moving average level, which is crucial.
📌If the FOMC statement is hawkish, it will lead to USD strength,
thereby a sharp decline in Gold price would take place.
My recommendation is not to rush with your trades. Instead, it would
be better to wait and observe.
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Price back above 1930. All eyes on FOMC now
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1950 is a major level, a breakout above will lead to strong bullish moves. If the resistance holds, you can expect a fall to 1920 or below
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As expected, we witnessed a heavy fall after FOMC. Congrats to all those who made money
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