XAUUSD 1H - FOMC

Gold! This is our plan for FOMC and what we're looking for. We would ideally like to see the price go up first towards the 1810-14 levels and find resistance. At this price point we would like to test the short trade for lower down towards 1790 and potentially lower.

IF however, Gold moves down first its likely it will find support around the 1790-85 level and then come back up. We're not interested in the long trade rather the short if we get it.

This analyses is only applicable for FOMC.

Its recommended that if you have less than 6 months trading experience you don't get involved in trading releases like this. If you do trade, its advisable to trade a smaller lot than you usually would and make sure you have a risk strategy in place.

As always, trade safe.

KOG