GoldViewFX - Market UPDATE & FOMC
Hey Everyone,
BOOOOOOM!!!!
As you can all see our 1H chart setup is now complete. The entire movement tracked exactly like we projected with our final BULLISH target at 1657 HIT on the nose!!! All bearish and Bullish targets now complete.
We spent the remaining sessions observing and waiting patiently for our next entry.
What can we expect tomorrow?
The price rejected at our 1657 level and now back into the range, which means all our levels are still valid and we can continue to track and trade it again using our EMA5 cross and lock to confirm the movement.
If we see support above 1640, we can expect some movement back up to test 1642 again. A break below 1642 and 1638 can potentially open the full swing range again. Keep in mind another test to swing range may have the momentum to break down lower due to FOMC, before swinging back up again. We expect bi-directional movement this week and therefore strategic entries from support and resistance is the best way to trade this market using our Goldturn levels.
BULLISH TARGETS
1638 - DONE
1642 - DONE
1650 - DONE
1653 - DONE
1657 - DONE
EMA5 CROSS AND LOCK ABOVE 1657 WILL OPEN 1661, 1664, 1668 AND 1673
BEARISH TARGETS
1642 - DONE
1638 - DONE
EMA5 CROSS AND LOCK BELOW 1638 WILL OPEN 1633 - DONE, 1630, 1626 AND 1622
SWING RANGE
1626
Trade with caution for the remaining week. We have FOMC/Fed rate hike announcement Wednesday. The market has probably already priced in the expected 0.75 percentage point increase, but the market sometimes panics in the last moments and any anxiety about a supersize hike will tank the price lower. The press conference after the Fed Funds Rate announcement on Wednesday may also rock the markets with any hints about pivots or sustained hawkishness. Something to remember is that the press conference tends to move the markets more than the actual minutes/statemen
As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
BOOOOOOM!!!!
As you can all see our 1H chart setup is now complete. The entire movement tracked exactly like we projected with our final BULLISH target at 1657 HIT on the nose!!! All bearish and Bullish targets now complete.
We spent the remaining sessions observing and waiting patiently for our next entry.
What can we expect tomorrow?
The price rejected at our 1657 level and now back into the range, which means all our levels are still valid and we can continue to track and trade it again using our EMA5 cross and lock to confirm the movement.
If we see support above 1640, we can expect some movement back up to test 1642 again. A break below 1642 and 1638 can potentially open the full swing range again. Keep in mind another test to swing range may have the momentum to break down lower due to FOMC, before swinging back up again. We expect bi-directional movement this week and therefore strategic entries from support and resistance is the best way to trade this market using our Goldturn levels.
BULLISH TARGETS
1638 - DONE
1642 - DONE
1650 - DONE
1653 - DONE
1657 - DONE
EMA5 CROSS AND LOCK ABOVE 1657 WILL OPEN 1661, 1664, 1668 AND 1673
BEARISH TARGETS
1642 - DONE
1638 - DONE
EMA5 CROSS AND LOCK BELOW 1638 WILL OPEN 1633 - DONE, 1630, 1626 AND 1622
SWING RANGE
1626
Trade with caution for the remaining week. We have FOMC/Fed rate hike announcement Wednesday. The market has probably already priced in the expected 0.75 percentage point increase, but the market sometimes panics in the last moments and any anxiety about a supersize hike will tank the price lower. The press conference after the Fed Funds Rate announcement on Wednesday may also rock the markets with any hints about pivots or sustained hawkishness. Something to remember is that the press conference tends to move the markets more than the actual minutes/statemen
As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
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