GOLD → Lower interest rates are ahead. A stalemate... ↑↓

18 Sep

XAUUSD is consolidating between 2588 - 2562. But, buyers are not yet out of the game in the hope of continued growth. Then everything depends on the Fed. Welcome to the casino :)



At 18:30 the FOMC & FED will meet to decide whether to cut rates. 0.25% or 0.5%. A 0.5% Fed rate cut could send a mixed signal about the state of the US economy: the Fed's concern about the economy, and that a “soft landing” may not turn out to be so soft, but it would be a strong bullrun signal for gold. A weaker policy, could provoke an unpredictable reaction, which would temporarily disappoint investors. In such a case, a correction to 2550-2525-2500 may form (price may bounce from any zone shown on the chart) before a further global rally, as the general tone of the market is set by the global Central Bank's interest rate cuts....

Resistance levels: 2575, 2588, 2600, ...
Support levels: 2561, 2550, 2530



It is difficult to say about expectations, as the uncertainty is high due to the fact that the overall situation is stalemate, either this way or that way. I recommend to refrain from trading on the news and wait for the volatility to decrease. The trading range for today is very wide....

Rate, share your opinion and questions, let's discuss what's going on with ★
XAUUSD ;)

Regards R. Linda!

18 Sep

Trade aktif

Updating the local high, but coming back down.
Price is trading from the boundaries of the local range.
Traders are waiting for the news...