Gold dropped sharply as the FED continued to be hawkish
Updated
A bad home sales report (but record April home prices) combined with falling traffic and smaller spending data from Target cast an early shadow on the markets but it was the FOMC Minutes that did the trick. big waves with their more hawkish comments.
For any and all that say "yeah but they're old, we've had CPI and Retail Sales since then", see the chart below to find growth macro data disappointing since the last FOMC meeting and the development of the data matrix continues to increase - not stopping at the state of testing the technical summary...
The gold market remained unchanged before the FED meeting. However, in the Asian session, there was a very deep decline to the resistance area of 2342 - 2338.
Currently, it is calming above the 2360 level
But with these moves, we have the possibility that gold could fall further again
For any and all that say "yeah but they're old, we've had CPI and Retail Sales since then", see the chart below to find growth macro data disappointing since the last FOMC meeting and the development of the data matrix continues to increase - not stopping at the state of testing the technical summary...
The gold market remained unchanged before the FED meeting. However, in the Asian session, there was a very deep decline to the resistance area of 2342 - 2338.
Currently, it is calming above the 2360 level
But with these moves, we have the possibility that gold could fall further again
Note
🔥 XAUUSD BUY 2358 - 2353🔥💰 TP1 2365
💰TP2 2370
❌ SL 2346
Note
🔥 XAUUSD SELL 2400 - 2397🔥💰 TP1 2390
💰TP2 2380
❌ SL 2408
Note
+ 50 Pips 🔥🔥🔥Note
Note
🔥 XAUUSD SELL 2340 - 2343🔥💰 TP1 2320
💰TP2 2300
❌ SL 2350
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