DislikedWell - those who aren't getting the point, let me remind them of the Bernanke philosophy he always emphasized on the Unemployment Rate and guys, let go back onto the economic calendar and check the Unemployment Rate and recall the one which Bernanke mentioned...good to see gold going where it is destined for...let's be a bit fundamental and forget the technicals for a whileIgnored
If you care so much about fundamentals, I suggest you read up on how much the taper might be when it happens. They're talking about a reduction of the monthly Fed purchases from $85b to $70b. It's pretty clear that this won't result in a single day drop of 2k pips even IF they announce it today.
They also won't risk doing that going into December with its renewed budget discussions. After all, the Tea Party lunatics might go apeshit again and shut down the entire government once more. NOT good fundamentals for a "taper now" bias.