KQMarkets

Gold - Neutral Post FOMC

FX_IDC:XAUUSD   Emas / Dollar A.S.
Gold has continued to rise post the FOMC meeting which indicated that there will be not a shift in dovish monetary policy. Additionally, the 50 day MA is moving towards the 100 day MA and prices could move higher and challenge resistance at $1932 with the forthcoming US stimulus package. However, whilst the 50 day MA hasn't risen above the 100 day MA confirming the trend reversal we still see potential for a pullback so we maintain a neutral view.

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