-
Gold and Silver Flagging Ahead of the FOMC Event Risk
As we approach the FOMC statement and subsequent press conference, the USD has been slowly fading its recent strength. We saw this in USD-crosses such as the EUR/USD, and we are also seeing this commodities priced in the USD, such as gold (XAU/USD) and silver (XAU/USD). Let’s look at their respective charts and think about what tomorrow’s reaction might suggest. GOLD Gold price found support at 1225.64 at the beginning of the week, and has since consolidated, rebounding to about 1242. The 4H chart shows the consolidation as a possible flag pattern developing. The prevailing trend is still intact: – The 200-, ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Sep 17, 2014 7:40am Sep 17, 2014 7:40am
- ForexMinute
- | Commercial Member | Joined Oct 2012 | 182 Comments
- Comment #2
- Quote
- Sep 17, 2014 7:53am Sep 17, 2014 7:53am
- JollyBean
- | Joined Jul 2009 | Status: Member | 382 Comments
- Comment #3
- Quote
- Sep 17, 2014 8:07am Sep 17, 2014 8:07am
- ForexMinute
- | Commercial Member | Joined Oct 2012 | 182 Comments
- Comment #4
- Quote
- Sep 17, 2014 8:53am Sep 17, 2014 8:53am
- Guest
- | IP XX.XXX.5.110
- Comment #5
- Quote
- Sep 17, 2014 1:46pm Sep 17, 2014 1:46pm
-
abhinav23
- | Joined Apr 2014 | Status: Member | 3 Comments