Click to see chart
GOLD BREAKOUT
| Event | Time | Instrument | Impact |
|---|---|---|---|
| CPI y/y | 9:00AM | GBP | |
| Unemployment Claims | 3:30PM | USD | |
| BOC Gov Macklem Speaks | 6:15PM | CAD | |
| Federal Funds Rate | 9:00PM | USD | |
| FOMC Economic Projections | 9:00PM | USD | |
| FOMC Statement | 9:00PM | USD | |
| FOMC Press Conference | 9:30PM | USD |
Gold's drop seems to have met its match in a strong support zone between 3383.290 to 3377.701 and has consolidated in the zone for most of the Asian session into the European session. The expectation is that it will snatch the liquidity below 3377.701 before before breaking out to re-embark on its bullish long term run. A buy limit (pending order - long) at 3375.776 with a stop loss at 3360.179 and target take profit at 3419.336 is our reccommendation.
Reviewing Analysis and Comparing Projections to Actual Market Movements.
