Gold (#XAUUSD): FED Interest Rate Decision Ahead
On Wednesday, we are expecting a
FED interest rate decision.
Gold will most likely will remain very calm until then.
On a daily time frame, the price is currently trading within a
horizontal range. Bullish news will trigger a
breakout of its upper boundary.
Daily candle close above will
confirm a
violation.
A
bullish continuation will be expected at least to
2006 level then.
Alternatively, a
bearish breakout of the
support of the
range and a daily candle close below
will trigger a selloff. A
bearish continuation will be expected to
1900.
Smart money are already accumulating their positions.
Watch the intraday price action around the release of the news for the clues.
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