Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
Gold: FOMC Meeting Will Clarify the Future
2021-07-27 • Updated
What will happen?
FOMC statement will be announced at 21:00 MT (GMT+3) on Wednesday, July 27. In the previous article, we have already mentioned the importance of this event. Analysts and traders will closely follow this meeting since the Federal Reserve statement about interest rates might make a huge effect on markets.
The must-watch comment is the one on tapering. This is what will determine whether gold rallies or sells off after the Fed meeting. And with growing concerns that the US economy will slow in the second half of the year, tapering might no longer be as urgent as it seemed just a few weeks ago.
If the Federal Reserve gives any kind of signals about stimulus tapering, it will put a negative effect on gold. On the contrary, if there are no sings of tapering, gold will get a boost.
The price is consolidating under the 200-period moving average. RSI oscillator got close to the buying zone. MACD shows that the bearish trend got weaker since June.
Dovish FOMC statement could help gold to break the 200-period moving average, which is highly important resistance. After the break, the price will have lots of space above. Targets will be $1830 and $1877, which are 38.2 and 50.0 Fibonacci levels respectively.
On the flip side, if FOMC gives signals about stimulus tapering, the price will drop and test 23.6 and 0.0 Fibonacci levels, which are $1772 and $1680 respectively.
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
US stock market corrects, gold recovers and the crypto market drops hard! Best trade opportunities during this week in the article! Let’s check the charts and set some goals! NASDAQ (US100) US100 index plunges as the US dollar strengthens…
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.
The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.