You are here: Home > articles > Commodities > Gold movement to the downside is limited in the longer term
Gold movement to the downside is limited in the longer term
December 16, 2013 7:15 amVideo
Latest News
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
- Hot forecast for EUR//USD on April 26, 2024 April 26, 2024
- Technical Analysis – GBPJPY close to a new 9-year high April 26, 2024
- Technical Analysis – USDCAD retreats beneath 20-day SMA April 26, 2024
- Key events on April 26: fundamental analysis for beginners April 26, 2024
- Trading plan for GBP/USD on April 26. Simple tips for beginners April 26, 2024
- Trading plan for EUR/USD on April 26. Simple tips for beginners April 26, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 26 2024. April 26, 2024
- Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday April 26 2024. April 26, 2024
- Forecast for EUR/USD on April 26, 2024 April 26, 2024
- Forecast for GBP/USD on April 26, 2024 April 26, 2024
- Forecast for AUD/USD on April 26, 2024 April 26, 2024
- The ECB also has reasons to worry April 26, 2024
- The dollar: there would have been no happiness, but misfortune helped April 26, 2024
The Fed meeting’s fears are increasing day by day, now it comes very close. The recent job data make tapering waves around the globe. The recent budget deal makes it clear. The main concern is the job growth is sustainable. The job market data is the key factor for Fed’s upcoming decision. Unemployment rate stood at 7%. Another concern is the falling inflation. Fed decision makes road to the financial markets, gold and USD.
Gold already hammered from 2011 peaks 1,933. Currently, it is trading near lower levels. At Asia’s trading session, it is trading at 1,236.
Possibilities:
· Fed will starts tapering from March/April/June, Wall street is expecting March.
· Fed trims its purchasing program – favorable conditions, we could expect this outcome. Monthly cut of $7-10 billion.
· Tapering with immediate effect (January) – surprise to Wall street, financial markets will collapse.
Intra view
Resistance – 1,240, 1,248.
Support – 1,233, 1,227, 1,220, 1,210, 1,208.
We expect gold will fall further from cmp 1,236.
Weekly wrap
Resistance – 1,278, 1,295, 1,310, 1,360, 1,435.
Support – 1,207, 1,200, 1,180, 1,150, 1,125, 1,100.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: