Gold, “Marionette’s Bride,” is in the hands of the Fed Chairman.
GOLD
OUTLOOK
Gold, “Marionette’s Bride,” is in the hands of the Fed Chairman.. What are the expectations and scenarios?
This week, the Federal Reserve will hold its sixth Federal Open Market Committee (FOMC) meeting of the year. The Federal Reserve meets and holds FOMC meetings eight times a year. During these meetings, Fed members discuss their economic outlook and vote on any changes the bank will implement related to its monetary policy, such as raising or lowering interest rates.
The Federal Committee is expected to keep interest rates steady in the range of 5.25% to 5.5%, which is the highest in 22 years. The decision will be issued at two o'clock in the afternoon, US time, followed by a press conference by Council Chairman Jerome Powell.
Interest decision issued by the US Federal Reserve:
previous : 5.50%
estimate : 5.50%
currently : ??
If FED released the result above 5.50% it will be positive for US index and negative for Gold and pairs
If released the result under 5.50% it will be negative for US index and positive for Gold and pairs
If released the result 5.50% it will be slight positive for US index
Gold price forecast today:
According to the performance on the daily chart below, the price of gold, is still in the stage of breaking the downward trend and trade in the bearish channel , and attempts will not succeed without moving towards the resistance levels of 1952 and 1985 dollars, respectively. This may happen today if the US Federal Reserve abandons its tightening tone of policy.
On the contrary, if the US dollar gains positive momentum from today’s announcement, The gold price may be exposed to strong selling operations, which does not rule out a move towards the 1900 per ounce support again.
On the 4H time frame , as we see 1930 is important for gold in the midterm and stabilized under 1930 will support the price to reach 1923 and 1903.
for reminder ,stabilized above 1930 will postponed the bearish trend and will support the price to reach 1940 in the midterm.
Additionally ,Today news will affect the market directly so manage your account carefully .
support line : 1920 , 1903
resistance line : 1940 , 1952
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Gold, “Marionette’s Bride,” is in the hands of the Fed Chairman.. What are the expectations and scenarios?
This week, the Federal Reserve will hold its sixth Federal Open Market Committee (FOMC) meeting of the year. The Federal Reserve meets and holds FOMC meetings eight times a year. During these meetings, Fed members discuss their economic outlook and vote on any changes the bank will implement related to its monetary policy, such as raising or lowering interest rates.
The Federal Committee is expected to keep interest rates steady in the range of 5.25% to 5.5%, which is the highest in 22 years. The decision will be issued at two o'clock in the afternoon, US time, followed by a press conference by Council Chairman Jerome Powell.
Interest decision issued by the US Federal Reserve:
previous : 5.50%
estimate : 5.50%
currently : ??
If FED released the result above 5.50% it will be positive for US index and negative for Gold and pairs
If released the result under 5.50% it will be negative for US index and positive for Gold and pairs
If released the result 5.50% it will be slight positive for US index
Gold price forecast today:
According to the performance on the daily chart below, the price of gold, is still in the stage of breaking the downward trend and trade in the bearish channel , and attempts will not succeed without moving towards the resistance levels of 1952 and 1985 dollars, respectively. This may happen today if the US Federal Reserve abandons its tightening tone of policy.
On the contrary, if the US dollar gains positive momentum from today’s announcement, The gold price may be exposed to strong selling operations, which does not rule out a move towards the 1900 per ounce support again.
On the 4H time frame , as we see 1930 is important for gold in the midterm and stabilized under 1930 will support the price to reach 1923 and 1903.
for reminder ,stabilized above 1930 will postponed the bearish trend and will support the price to reach 1940 in the midterm.
Additionally ,Today news will affect the market directly so manage your account carefully .
support line : 1920 , 1903
resistance line : 1940 , 1952
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
