GOLD, the precious metal traders are nervous! What to expect on FOMC decision!?

mario urlic forex gold 27.04.

Moving in between 1242 and 1251 for few times in the last three hours, the precious metal traders are showing that they are nervous before FOMC today and it seams that they are taking this decision quite seriously. As you can see in my analysis, gold is still in the some kind of neutral teritory, squeezed in simetrical triangle and there is a little more advantage for the buyers in this moment. That’s why, attack on the 1270/80 is possible if FED stays on hold and show any kind of worries in the press conference. On the other hand, if FED tightens the monetary policy furder, no matter that noone is expecting that today, the precious metal could fall toward 1208 > 1190. Some positive comments from Yellen could send the precious metal down as well. Stay alert!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s