Gold Trades in Rigid Boundaries Ahead of U.S. FOMC Meeting, $15+ Movement Likely; June 16, 2021

U.S. FOMC Interest Rate Decision & Press Conference

The wait is over and the D – Day comes. Indeed it will be the Decision Day to predict the future direction of the U.S. dollar and accordingly how major peers will move in short to medium term. It’s the primary tool the Fed uses to communicate their economic and monetary projections to investors. U.S. FOMC Statement discusses the economic outlook and offers clues on the outcome of future votes. FOMC continues to keep watch on recently released Economic Data in favor of rising prices and to meet the economic projections.

Key Predictions on FOMC Monetary Policy:

  • If the Fed is cautious, they will wait till the real data improves before admitting that it is time to start talking about tapering their $120 billion a month bond buying program.
  • On the other side, market conditions are suitable for Taper Talk to start.
  • World stocks are rising and traders are too optimistic on the U.S. Economy.
  • If the Fed confirms to begin Taper Talk, U.S. dollar will strengthen.
  • If the Fed avoids talking taper and delays the immediate need of it, U.S. dollar could fall forcefully.

Let’s see how Gold has reacted during the previous FOMC Statement:

April 28:

March 17:

Technical View:

XAUUSD (Gold):

  • Gold Continues to trade in stiff boundaries ahead of U.S. FOMC Rate decision.
  • The pair made intraday high at $1,861 and low at $1,852 mark.
  • A day chart is up but H1 chart with triple EMA confirms down trend for the time being.
  • A sustained close above $1,862 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,852 will check further supports.
SUPPORTS Resistances
$1,852 $1,862
$1,847 $1,867
$1,841 $1,872
$1,836 $1,876
$1,831 $1,881

Take a look and do trade wisely!
Good Luck

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

Recent Posts



Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Mail us

Drop mail at:

Contact us

Call or Whatsapp
+44 7441 416320

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 because 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.

TP Global FX Limited is registered and regulated by Vanuatu Finance Service Commission (VFSC) with a registration number 40409.

TP Global Limited is registered and regulated by FINANCIAL SERVICES COMMISSION (FSC) MAURITIUS with a registration number GB21026474

TP Global FX Limited is registered and regulated by Financial Services Commission, Mauritius with a registration number GB21026474

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.

mappin at-sign phone close