How FOMC might affect GOLD
Scenario 1 (weak USD)
Gold goes to 1215 but bad news for usd send it rallying up to the 1242-1245 level and up, watch trendline break for long entries
Scenario 2 (strong USD)
Gold still goes testing 1215 but good news for usd make it break through first strong support, it will head towards 1205 (second support) and test it, watch support level break for short entries
HENCE careful to the 1215 especially during FOMC minutes and let s see.
Im personally short watching usd performance in the last few days.
Gold goes to 1215 but bad news for usd send it rallying up to the 1242-1245 level and up, watch trendline break for long entries
Scenario 2 (strong USD)
Gold still goes testing 1215 but good news for usd make it break through first strong support, it will head towards 1205 (second support) and test it, watch support level break for short entries
HENCE careful to the 1215 especially during FOMC minutes and let s see.
Im personally short watching usd performance in the last few days.
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