Be Prepared As U.S. FOMC Meeting Minutes May Create $6 – $40 Movement in Gold

U.S. FOMC Meeting Minutes

The most watchful event for the day will be FOMC Meeting Minutes. It’s a detailed record of the FOMC’s most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates. These minutes are from the meeting held back in September 2020. During the Sept FOMC Rate Decision event, the opinions of FOMC Members were dissent. As some of the FOMC members voted against the new guidance on interest rates. Market is eager to see how many FOMC members had voted against the new initiative. Therefore, the upcoming FOMC Meeting Minutes might move the markets as per expectations. In addition, traders are keen to know the Fed’ plan to maintain targeted inflation of 2 pct.

Let’s see how Gold has reacted during the previous data release:

Aug 19

July 01

May 20

Technical View:

XAU/USD (Gold): Gold erases previous loss against U.S dollar and touches $1,898 mark in European hours. Today pair made intraday high at $1,898 and low at $1,872 mark. A sustained close above $1,913 requires for the upside rally. On the other side, consistent close below $1,878 will check key supports as well. Key support levels are seen around $1,872, $1,864, $1,857, $$1,849, $1,840, $1,822, $1,809 and $1,787 mark respectively. Key resistances are seen at $1,902, $1,908, $1,918, $1,922, $1,932, $1,940, $1,947, $1,957 and $1,972 marks respectively.

Take a look and do trade wisely!
Good Luck

Tags
Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts

Categories

Offices

305 Griffith Corporate Park, Beachmont Kingston, Saint Vincent & the Grenadines

Mail us

Drop mail at:
support@tpglobalfx.com

Contact us

Call or Whatsapp
+1 7754366970

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc. This site is run and operated by - TP Global Services Limited registered by FSA, St. Vincent and the Grenadines with Number 25274 BC 2019. Registered office: Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

TP Global Services Limited is registered with NFA (National Futures Association) USA with Registration Number 0533098.

mappin at-sign phone close