Forex Marketz Daily Forex News – Fully Markets Update
Today is expected to be either a ‘big’ day for the USD (with the FED determining rates) or a basic ‘as-is’ day on the markets. Because the announcement, markets are appearing almost stagnant. Looking at Gold we see daily report:
Notice it is trading at midrange, and the moving average of around 1197. The Support levels are 1170 and the Resistance is at 1234. We could expect the rates to change hourly, if the FEDS increase interest rates. Let’s look at the hourly:
We see clearly that the Gold standard is not really moving that much right now. Investors should be on the lookout around 2 PM Eastern Time for the announcement. Changes in the rates up would mean a change in the USD and thus impact Gold. Meanwhile, Fedex announced their earnings and did not meet expectations. This implies that potentially we are seeing a downturn in the profits of large corporations. This would batter the already affected USD.
In summary, traders should watch the hourly and 30 minutes charts and when seeing change should book positions to maximize profits.
