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Gold With Three Trend Scenarios Ahead of FOMC Statement

Jul 26 2017, 08:10 PM (+06) |

FxGrow Daily Technical Analysis – 26th July, 2017
By FxGrow Research & Analysis Team

Gold With Three Trend Scenarios Ahead of FOMC Statement

Today, U.S Feds will release FOMC statement and analysts are divided about tilts or stance. The main points to be discussed are potential rate hike by 2017 and current balance sheet tapering. Market will be volatile, there is no doubt about that, along with it, gold will be on ups and downs. Traders can benefit if they managed to decipher a hawkish or dovish, but analysts could see the statement in their own perspective in case of vague or hidden as devils lies in details and Yellen has been noticed recently by not giving confirmed hints to build on. Preferable, to wait for a 100% confirmation with following three difference scenarios for gold to take next step for shortening or longing.

Currently gold is traing 1246 and has not overpassed 1247.50 or dropped below 1244.50, indications that market is poised for FOMC so long waited this afternoon at 6:00 PM GMT.

The Three Scenarios:

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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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