Big Day FOMC is underway followed by GDP announcement.
As we discussed the breakout the other day circled in the Picture. Gold is tug of war between the Bulls and bears. Inflation and Recession fears taking the price North but price is rejected at upper Level at 1730s as per FOMC announcement uncertainties.
75 BPS Interest rate hike is what the market consensus and believe to be price in on current levels. 100 BPS is unlikely as the Recession calls are echoing.
Price or spikes can take it to 1685-1680. Or the Price can dare to touch the lower channel of the chart ( remote chances)
Beside all this i am expecting quick recovery to the course of 1752- 1770 -1800 levels.
Do Comment on the idea and odds.
Cheers, Trade Safe and Good Luck!
As we discussed the breakout the other day circled in the Picture. Gold is tug of war between the Bulls and bears. Inflation and Recession fears taking the price North but price is rejected at upper Level at 1730s as per FOMC announcement uncertainties.
75 BPS Interest rate hike is what the market consensus and believe to be price in on current levels. 100 BPS is unlikely as the Recession calls are echoing.
Price or spikes can take it to 1685-1680. Or the Price can dare to touch the lower channel of the chart ( remote chances)
Beside all this i am expecting quick recovery to the course of 1752- 1770 -1800 levels.
Do Comment on the idea and odds.
Cheers, Trade Safe and Good Luck!