GOLD, the bulls have allready prepared for the FED’s stay on hold or!?

mario-urlic-forex-gold-07-09

Gold bulls pushed the precious metal price strongly up yesterday on weak ISM and reached daily down trend line and resistance level at 1353/58. Are they preparing ‘the field’ for September 21. and for the FED’s interest rate decision with stay on hold? They could be and this is the possible range in the next 11 days and the possible move on decision. As I see it, technicaly they could form the range in between aprox 1338 and 1356 until September 21. and then for move up toward 1375 again, if FED stays on hold of course. If FED hike on September 21., gold could fall back toward 1300 once again and continue to fall furder after. This is my view on possible move, how do you see it?

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8 comments

  • Slažem se sa tvojim predviđanjem i sa komentarom da neće zlato jače gore bez razloga. Danas je već bilo članaka da neće FED dizati u Rujnu ali nema reakcije na zlatu i dolar nekako polako vraća snagu. ISM je odradio ‘svoje’ i stop lossovi su fasovali. 🙂

    Liked by 1 person

  • hey”SNIPER”
    after yesterday data i think every kid on the street know’s that their are very remote chance of fed hike+ above 1360-1370 their is no near term resistance on chart.
    so for me this is just my one of the thought that market will do 2 thing’s 1} will go till 1420-1430 zone and reverse very hard to downside or from this resistance of 1360-1370 will fall hard because no one is talking about any bearish signal………
    just my thought…..
    http://prntscr.com/cf5vyn

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    • You could be right, but I don’t see the possibility for gold to go so strong higher without a conrete confirmation from FED, to stay on hold. I know there is a little chance for hike the rates in September, but you never know. For now, this trendline hold on the way up and gold returns a little bit toward the support. We will folow the move of course.

      Btw. Thanks for you’re comments. There is one thing, maybe you have notice that. You’re constantly comment with ‘different name’ and wordpress is blocking you’re comments if I didn’t aprove you earlier. Register with one name only and use that all the time, so you’re comments will be here imediately. 😉

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      • sure i will post from this name only…. sorry for inconvenience caused…..

        Liked by 1 person

  • I am looking for 1417 to be reached somehow. My expectation is this to be true till the end of the next week.

    http://prnt.sc/cf4syb

    Liked by 1 person

    • You see the break true toward 1400 before the FED’s decision or? You’re chart is little unclear to me.

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      • I apologize! I think that if it is not before the FED it will be on the FED – i am talking about 1417
        The chart represents few scenarios. Excuse me again about that
        http://prnt.sc/cfc9qj

        Liked by 1 person

  • Nice view Mario, 1390/1400 is the next station if Fed fail on September 21.

    Liked by 1 person

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