In our previous analysis Gold was trading @ $1730 We were expected the pair to be bullish @ had our target on $1750 The pair did attempt to reach this target but was limited to $1742 before falling back to $1726 The pair triggered our Buy Stop order @ $1740 before falling forcing us to open more buys @ $1730 The finally managed to hit our target as predicted which was also our TP enabling us to bank over 650 pips on gold. WHAT TO EXPECT:
Currently @ $1745 We expect the pair to continue its uptrend & attempt to test next resistance @ $1770 The pair might retrace back to the $1730 level before continuing its bullish trend A retracement is definite with gold after FOMC if you look @ past FOMC events Do note that according to COT Report gold is still bearish OUR POSITIONS:
link to our previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
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