Fundamentals for the Day
4.30 pm GBP Monetary policy Summary
GBP Official Bank Rate
6.00 PM US Philly Fed Mfg Index
Unemployment Claims
Building Permits
Housing Starts
7.30 pm Pending Home Sales m/m
8.00 pm Natural Gas Storage
Federal hike interest rate by 0.25% from 3.75% to 4% negative for Bullion – where Gold take a DIP downside and come back
XAUUSD – Gold
4373$ – 4240$
Our Preference: Sell Gold @ 4370$ around for target 4280$ & 4240$ with SL 4393$+ only if sustain
Alternative Scenario: Buy Gold @ 4240$ for target 4300$ with SL 4220$ below only if sustain
Trading Zone
4335$ Sell start for the Day
4280$ Buy for a momentum
After Fed Rate hike decision for now Gold will try to move downside only from all high but again all this will be temporary – Positional trader will remain only on Buy side position only will make a consistent profit
Silver
Range: 65.35$ – 62.35$
Our Preference: Sell Silver @ 64.90$ for target 62.50$ with a back up 65.30$ with SL 65.50$
Alternative Scenario: Buy Silver @ 62.50$ with SL 62.10$
Trading Zone
62.10$ Breakout Sell for target 60$
65.80$ Breakout Buy for target 66.83$
