In our FOMC Meeting live coverage on YouTube yesterday, we sent out a short signal on USD/JPY around 25 minutes after the decision and right before the press conference.
Intraday ideas for XAU/USD
Information is not investment advice
The fundamental picture for gold is positive: the precious metal is a safe haven asset and tends to strengthen during the periods of market uncertainty. Still, its intraday moves can take different directions. After forming a diamond-like top below 1,700, XAU/USD went consolidating between 1,665 (38.2% Fibo of March 9-10 decline; 100- and 50-hour MAs) and 1,642 (200-hour MA). There are also support levels at 1,656 and 1,650. The breakouts of the mentioned levels will determine the short-term dynamic.
Trade ideas for XAU/USD
SELL 1,655.50; TP1 1,650; TP2 1,642.50; SL 1,657
BUY 1,668; TP1 1,672; TP2 1,680; SL 1,666
The Federal Reserve decided to keep the current policy unchanged as widely expected, with no additional information about the timing of the tapering. In fact, in this meeting, the Fed mentioned tapering twice only.
Since the beginning of the earnings season, companies are posting record earnings, most sectors have so far beaten the estimates by a large margin…
As we discussed in the previous article devoted to gold, the price is growing extremely fast after a dovish FOMC’s statement…
What happened? Facebook presented an earnings report on July 28…
Ichimoku Kinko Hyo NZD/JPY: The NZD/JPY pair is trading slightly below the Tenkan Sen level…