good day everyone!
Gold is forming a bearflag on H4 imo so i'll be looking to sell during rallies. FOMC is projected to provide a 25bp cut as market expects, but with a hawkish tone which should drive gold down to my original target of 1452. if no cut then same result as the dollar will strengthen. I'd only keep wider than normal stops during FOMC due to the speculative spikes, but overall i'm doubting we will see dovish comments from powell as the US economy seems to be doing well atm.
best of luck traders!
Gold is forming a bearflag on H4 imo so i'll be looking to sell during rallies. FOMC is projected to provide a 25bp cut as market expects, but with a hawkish tone which should drive gold down to my original target of 1452. if no cut then same result as the dollar will strengthen. I'd only keep wider than normal stops during FOMC due to the speculative spikes, but overall i'm doubting we will see dovish comments from powell as the US economy seems to be doing well atm.
best of luck traders!
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