View On Gold XAU/USD (27 July 2019)
We will be having the FED item in the coming week and it is very likely that a 25bps rate cute is a given.
There are 2 major regions that I want you to take note.
Support: I am expecting $1,395 to $1,400 region to act as very good support. We can't be firm on the major pullback until the previously mentioned support is broken strongly.
Resistant: I am expecting $1,425 to $1,430 region to act as a very good resistant. The gold price shall not pass the region easily. Upon the rate announcement, the price may make a quick swing up above $1,450 just to have a pullback down in the near term.
DYODD, all the best and read the disclaimer too.
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