Intraday Analysis - ( 2 FEB 2023 )
GOLD ANALYSIS AFTER FOMC
The feds decided to go as per forecasted and raise a 25bps which was a slow down in rate hikes for months to come now. In a live weekly recap session i did mention a 25 bps will cause a rally across all risk assets, including commodities and crypto and the stock market. The fundamental sentiment has not change just yet with no stance or remarks from jerome to continue its fight for inflation instead its just on the fence news that was sort of repeated since last FOMC.
Now we will still adapt to current market sentiment and look for buys.
HRHR buys 1934
MRMR buys 1939 / 1935
SAFEST buys upon break out of the current range we are in at 1957
Will only look for long term shorts or potential scalp shorts below key level at 1929 which shows that the entire upside move was completely cancelled out. This could potentially happen if theres an even bigger fundamental news in play or shift in market sentiment in this case we will be observing whats coming next which is NFP tmrw.
GOLD ANALYSIS AFTER FOMC
The feds decided to go as per forecasted and raise a 25bps which was a slow down in rate hikes for months to come now. In a live weekly recap session i did mention a 25 bps will cause a rally across all risk assets, including commodities and crypto and the stock market. The fundamental sentiment has not change just yet with no stance or remarks from jerome to continue its fight for inflation instead its just on the fence news that was sort of repeated since last FOMC.
Now we will still adapt to current market sentiment and look for buys.
HRHR buys 1934
MRMR buys 1939 / 1935
SAFEST buys upon break out of the current range we are in at 1957
Will only look for long term shorts or potential scalp shorts below key level at 1929 which shows that the entire upside move was completely cancelled out. This could potentially happen if theres an even bigger fundamental news in play or shift in market sentiment in this case we will be observing whats coming next which is NFP tmrw.