Hey, traders. Thank you for the comments and boosts.
Today's chart is Gold. Let's check it quickly.
We can see
1. the price had reached resistance zone.
2. 1725 ~ 1835 box pattern.
We should check
Wednesday - Crude Oil Inventories, FOMC Statement, Fed Interest Rate Decision
Thursday - EU Leaders Summit, EU Deposit Facility Rate, ECB Monetary Policy Statement, ECB Interest Rate Decision, US Core Retail Sales, US Initial Jobless Claims, Philadelphia Fed Manufacturing Index, ECB Press Conference, ECB President Lagarde Speaks
Friday - EU CPI
We can expect
1. extending box pattern by breaking 1825 ~ 1835 resistance zone.
2. dropping to 1725 by resistance zone.
There were big movement because of US CPI.
It showed inflation is decelerating and it implied Fed would slow down their monetary policy.
For those factors, Gold price could go upward. But, there is a game changer which is FOMC meeting.
After FOMC meeting, market will have giant movement and we will see which direction is.
It seems like Gold price had reached top price of box pattern and we could have short position.
Let's see how it moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Today's chart is Gold. Let's check it quickly.
We can see
1. the price had reached resistance zone.
2. 1725 ~ 1835 box pattern.
We should check
Wednesday - Crude Oil Inventories, FOMC Statement, Fed Interest Rate Decision
Thursday - EU Leaders Summit, EU Deposit Facility Rate, ECB Monetary Policy Statement, ECB Interest Rate Decision, US Core Retail Sales, US Initial Jobless Claims, Philadelphia Fed Manufacturing Index, ECB Press Conference, ECB President Lagarde Speaks
Friday - EU CPI
We can expect
1. extending box pattern by breaking 1825 ~ 1835 resistance zone.
2. dropping to 1725 by resistance zone.
There were big movement because of US CPI.
It showed inflation is decelerating and it implied Fed would slow down their monetary policy.
For those factors, Gold price could go upward. But, there is a game changer which is FOMC meeting.
After FOMC meeting, market will have giant movement and we will see which direction is.
It seems like Gold price had reached top price of box pattern and we could have short position.
Let's see how it moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
