- As mentioned earlier, a very important event took place at the FOMC MEETING yesterday. The US Federal Reserve has increased their rates by 50bps. Before that there was some talk among the traders about it. So after raising their rates, the US dollar weakened. This is because the USD has been BUY in the past due to the sentiment of traders on the rates they...
Hi Traders,
The sell we've been waiting for finally came following Friday's non-farm payroll report. I'm expecting XAUUSD to drop towards the $1400.00 region before we can start looking for buy setups. For the time being, let's keep selling every pullback whilst managing risk.
Regards,
Wave Theorist
The previous attempt to sell at 1470.93 was a success, although the desired trade did not play out as I expected - price was not done with the current correction. I'm looking at what may be a WXY regular flat, and the cypher pattern suggests TP at 1481.21. The trade has already been confirmed by RSI and Stoch RSI.
