Gold

The FOMC and BOE will likely cause gold to chop again next week.


FOMC could push Gold to the 1890 level.


After, the BOE could push Gold to the 1910 level.


However, any rallies could be sold back to 1850 or even 1824 as the dollar is expected to be very strong.

So, if the price doesn't exceed 1890 decisively and start a trend higher, there could be a juicy bull trap this week.

What do you think?

I never stop trading even during important news or economic reports. So let’s see if I get profit or I have to deal with drawdown.

1885/88 next bull target to see what happen , may correct 1804 to restart bull . so possible big tanking is approaching next .lets see

I would love price to go at 1804

thats ok but not think in straight line yet , 1878 try test to correct below 1855 to continue up 1888 before ready tanking for 1808 perhaps . anyway will love any movements .

High Inflation data released on Friday has surged the Gold which shows investors no longer care about FED.
After the US CPI data release the Gold surged about 2.75% reaching almost to $1875.
Which seems that the yellow metal is responding to higher Inflation.

Few Fundamental points affecting Gold:

1. Retail Gold Investments and Bullion sales sore by an average of 42% at the end of May 2022
2. 27% of Central Banks resume Buying Gold gradually through the year 2022 due to challenging Economical and Geopolitical environments.
3. FED Rate Hikes by 50 bps is still highly expected in the upcoming weeks with could create a Short Term Selling pressure.
4. Geopolitical risks and Inflation continues to add more interest by the Investors.

Coming to the sentiment, the average Institutional Sentiment sees a slight increase in Long Positions as compared to previous week(30 May - 03 June).
On Retail side the average Retail Sentiment remains almost SIDEWAYS with Longs bit Higher than the Shorts.

Average Institutional Sentiment For The Previous Week (06 - 11 June)**

1. LONGS : 56%
2. SHORTS : 44%

Average Retail Sentiment For The Previous Week (06 - 11 June)**

1. LONGS : 54%
2. SHORTS : 46%

** The Sentimental Data provided is NOT 100% accurate. As Gold being a decentralized market the Sentimental Data provided here does not cover the entire market. Actual figures may vary.

Gold could go to 1855. I think that it looks bearish so far today.

One short entry is closed and two are still running.

Entered a short at 1878 when markets opened last night. Looking to take profit at 1830. Stop loss moved to 1867.

A surprise 75 bps rate hike should make Gold drop hard this week. Maybe under 1800.

Agree. 0.5 increase could keep it at a reasonable level. Before the decision we could be back at 1840 or lower.

Got my Signal and Trade 12 Sell opened....

Trade Safe

Now, all we need is a tight range trade around 1855 to make this pair boring until the FOMC.

Remaining two positions are also closed. Nice beginning of week.

TP HIT as USUAL................Easy Peasy 25.... I'm Loving My System

118 MORE TO GO...........

Trade Safe
https://www.forexfactory.com/thread/...9#post14030379

1830 is now very close. I expect now that the price will touch this before feds decision.

Added another short position and closed it.

Buy Limit orders are in place at Support levels. Lets see

What a respect of upper band by price and nice rebound

Lower band is at 1828 and MA (Brown Line) is at 1821. Once price hit that level then situation will be more clear. My third buy limit order is below lower band at S3. So hope fully price rebound before hitting S3. All short positions are closed and now i am starting to add long positions.