GOLD: Multi-Timeframe Analysis Ahead of FOMC

30 Jul

GOLD: Multi-Timeframe Analysis Ahead of FOMC

Gold prices may experience a short-term surge leading up to the FOMC announcement.
But what comes next?

Let’s break down the analysis, step by step.

For deeper insights, watch the full breakdown in the video.
Thank you!

30 Jul

Nota

📣Gold Update

After stronger than expected ADP and GDP data from the US, gold started a bearish move from the market price near 3333. It was not a strong zone but today it's all about the news.

It is generally in line with the bearish view that I explained, so nothing changed on the bigger picture.

Be careful during the FOMC as it could be a mess again, but so far it is bearish. Any comments could push it back up, but I don't see that happening in the next few hours yet.

30 Jul

Nota

30 Jul

Dagangan aktif

All the comments made by Powell are positive for the US economy. He made the same comments in the previous meeting, but the US dollar was weak.

However, his comments, or whatever, are making the US dollar stronger as expected and the ARRI is moving lower, as our overall view was also showing.

🔥Today, gold fell from 3333 to 3276, the current price, by almost -1.65% and chances are it will fall further to 3250.

30 Jul

Nota