After bullish responded dovish FOMC
statement last week, Gold do a bearish correction in the range of USD1254.
However, since December 16 last FOMC statement, gold has gone up more than 18
percent. Expectations FED will raise interest rates this year has faded since
the initial rise in December, as concerns over the global growth rocked
financial markets and the Fed Yellen said that his team is projecting only two
hikes in 2016's.
Thus, the bullish movement Gold is a
logical speculation in response to the risk of global economic growth and
easing tend to do the world's major central banks today.
Technical analysis
At the H4 chart below may be one of
the possible Elliott Wave count that can help you take trading decisions today.
