Forex Trader

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!