GOLD, October 29. – FOMC in focus today!
To taper or not to taper? FED’s decision is the main event today and what if they don’t taper all the expectetd 15B usd? This is how gold looks today and what are the technical support/resistance levels. For the third day in a row gold is supported at 1225/30 and what could happen today after FED’s decision. On my oppinion, 15B $ taper is allready priced in, but lower tapering could boost gold strongly up. I don’t expect increasing of the Interest Rates from 0,25%. It could be interesting day that’s for sure. This is daily chart and fail brakes are possible on the lines!
– 18:00 h GMT – Fed Interest Rate Decision (Previous 0,25%, Exp. 0,25%)
– 18:00 h GMT – Fed Pace of MBS Purchace Program (Previous $ 5B)
– 18:00 h GMT – Fed Pace of Treasury Purchace Program (Previous $ 10B)
– 18:00 h GMT – Fed’s Monetary Policy Statement