Last trading day of January done, and Fed's interest rate decision released-remain 5.5%. As expected, there is no clear clue for investors that shows the exact time of cutting interest rate, all Fed's move will be guided by key economic data. What is your future trading blueprint?
3 major US indices reached historic new peak and are probably going to have a retracement period. Especially for US30, 1000 points are possible. Still, we need more proofs from this Friday Non-farm payrolls How does the Fed's decision affect assets' future trend?
Gold
Take the monthly chart as reference, if there are no geopolitical affects, the price will stay above 1982 for long-term (1982-2082 zone) main trend. (screenshot below)
But daily traders, please focus on daily key economic data, take advantage of high and low price triggered by the news.
From yesterday gold price movement, it reached 2056, but closed at around 2039. For conservative daily traders, daily chart plus one hour and four-hour chart will be your reference. Buy at around 2039, 5-6 dollars as TP price, 3 dollars as SL price. Adjust it timely by your market sensitivity please! Do NOT act as a nerd!
Gold&Dow30 expert
