Metals - Post-FOMC Reset
The market took advantage of last FOMC meeting to make some price adjustments. We were "worried "about 1850 #XAU/USD# and 27.50 #XAG/USD# as there was probably a huge gap of liquidity below and so, a possible fast-market if we trigger the first stops below these prices.
It's always hard to build a position on Friday when the market doesn't show yet any sign of buyers.
However, prices we are trading now can be a good opportunity for investors who believe in trend and don't have any position yet. For this reason, we put some more metals in portfolio yesterday at 1775 and 26.10 to test these levels. 1750-1775 is the #trading#range we spot on.
Be careful on Silver. If the market is stronger than Gold, it might also be a bit "over-priced", still.
We believe that 92.00 on DXY is over-extended and should be rejected.
Friday will probably trading in a quiet 92-91.5 range.
But if trading above 92 with strength, we give up temporarily about Metals: meaning probably the market will need a new cycle of consolidation (with a Silver coming back to 22-23.)
Edited 18 Jun 2021, 04:53
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