XAUUSD Analysis:
We have seen XAUUSD Strong upward momentum since few days. Gold has crossed 1800 several times in last few days. Currently price is seeking validation from awaited FOMC interest rate decision on Dec-15th. Key News event which can effect Gold price movement is CPI (Tuesday Dec 13th) and FOMC interest rate decision. Softer CPI will add fuel to the Gold current movement. However overall sentiment is bullish.
Technically : on charts Gold look Bullish. Price is above 200 Daily EMA . 1780-1782 is the key support area which is also Fib 61.8 support level on 1 H chart. Any price movement near this can be seen as a good buying opportunity.
With the policy tightening easing out and Dovish FED stance we may see USD weakness and reciprocals bullish.
Do comment on the idea.
Cheers
We have seen XAUUSD Strong upward momentum since few days. Gold has crossed 1800 several times in last few days. Currently price is seeking validation from awaited FOMC interest rate decision on Dec-15th. Key News event which can effect Gold price movement is CPI (Tuesday Dec 13th) and FOMC interest rate decision. Softer CPI will add fuel to the Gold current movement. However overall sentiment is bullish.
Technically : on charts Gold look Bullish. Price is above 200 Daily EMA . 1780-1782 is the key support area which is also Fib 61.8 support level on 1 H chart. Any price movement near this can be seen as a good buying opportunity.
With the policy tightening easing out and Dovish FED stance we may see USD weakness and reciprocals bullish.
Do comment on the idea.
Cheers