Gold: Holds Steady Ahead of Fed Decision – Will $3,500 Break?

From dailyforex.com

As you can see, the gold market has gone back and forth during the bulk of the trading session here on Tuesday. We are sitting just below the 50 day EMA. If we can break above the 50 day EMA, I think that's a very bullish sign. We formed an inverted hammer during the Monday session. But I think the biggest problem we have here is the fact that it's the Federal Reserve interest rate decision on Wednesday that the market is waiting for. In other words, we don't really have anywhere to be, at least not until we get past that. Once we get past the press conference, the interest rate statement, and of course the decision, ... (full story)