In the daily chart market still staying bellow the downward channel. Yesterday D1 candle formed a Bearish Pin Bar. If the gold price can't break above the 1820 price, D1 Bearish Pin Bar still will be valid.
Last FOMC didn't change a lot. FED still in wait-and-see mode. Suppose we see the gold price break above the 1820 price zone. We may see some upward correction till the 1850.00/1860 price zone.
On the other hand, breaking below the 1790.00 price zone will confirm the D1 bearish Pin Bar and sell call.
Target 1: 1775/1770
Target 2: 1735/1730
Target 3: 1685/1680
Last FOMC didn't change a lot. FED still in wait-and-see mode. Suppose we see the gold price break above the 1820 price zone. We may see some upward correction till the 1850.00/1860 price zone.
On the other hand, breaking below the 1790.00 price zone will confirm the D1 bearish Pin Bar and sell call.
Target 1: 1775/1770
Target 2: 1735/1730
Target 3: 1685/1680
Trade closed: target reached
Target 1 Done
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.