GOLD: Seller advantage in a downtrend!
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The Federal Reserve is likely to keep interest rates unchanged if a meeting were held today, as there is still uncertainty surrounding the state of banks. However, if the upcoming weekend is stable and without any urgency to rescue banks, there is a possibility of a 25 basis points rate hike. The Fed usually increases rates until they reach a breaking point; if only one bank, SVB, is affected, persistent inflation could result in further hikes. As a result, the US dollar will become stronger, and stock prices may eventually fall after the initial relief rally.
SELL GOLD zone 1997 - 2000
Stoploss: 2007
Take profit 1: 1990
Take profit 2: 1980
Take profit 3: 1970
BUY GOLD zone 1980 (scalping)
Stoploss: 1977
Take profit: 1987
Note: Note: Full TP, SL for winning the market and safe trading!
The Federal Reserve is likely to keep interest rates unchanged if a meeting were held today, as there is still uncertainty surrounding the state of banks. However, if the upcoming weekend is stable and without any urgency to rescue banks, there is a possibility of a 25 basis points rate hike. The Fed usually increases rates until they reach a breaking point; if only one bank, SVB, is affected, persistent inflation could result in further hikes. As a result, the US dollar will become stronger, and stock prices may eventually fall after the initial relief rally.
SELL GOLD zone 1997 - 2000
Stoploss: 2007
Take profit 1: 1990
Take profit 2: 1980
Take profit 3: 1970
BUY GOLD zone 1980 (scalping)
Stoploss: 1977
Take profit: 1987
Note: Note: Full TP, SL for winning the market and safe trading!
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