Gold rallies after FOMC meeting,
Strong support at 1280,
With 10 Days EMA crossing above 20 Days EMA that triggers buy in signal now
MACD and SAR both showing bullish signals
Using Fibo retracement, initial target 1322, next 1330, with 10 Days EMA as stop loss (or 1300 to be simple)
HSI made a concentrate breakthrough above 29000 and 29200, which are key ranging area and resistance levels.
A valid uptrend should no drops below 29000 (also approx the 10 days EMA), above that uptrend remains intact.
Upper level targets 29600, 29900 (orange resistance) and 30050 (Fibo resistance)
While EUR/USD obviously under pressure of the downward trend line, indicators including MACD and DMI shows bullish signals.
Pending EUR/USD to make a daily close above 1.1360 to confirm reversal, with initial target 1.1420, and another bet aim for higher 1.1560
Potential event to trigger the breakthrough could be the...
SPX breakthrough key resistance
SAR just triggered positive signal
Key events most at the end of March, leaving 2 weeks time for trend to extend further
Pending MACD to show bullish signal
Upper resistance using Fibo extension are recent highs, with weekly low as stop loss