A1 Trading Company

Ticker tape by TradingView

July 15, 2021

How To Trade Gold After The Fed Report

Frank Cabibi

7/15/2021

The Fed testimony going on right now, is causing lots of choppiness in the market as well as gold's price. Price has fallen 0.31% at the time of writing this and as Powell answers questions from the Senate Banking Committee.

Our outlook

It seems that the Fed is in no hurry to tighten grip on dollar inflation and continue to let inflation run its course which could be bearish for the dollar. The uneasiness in the Fed's monetary policy could be a good sign for the gold bulls, especially as inflation will not be tended to anytime soon paired with the increasing number of jobless claims.

Trade Setups

XAUUSD

Price on the 4H chart is coming down today and could end up reaching support around $1817 which served as a triple top before. If that breaks, we could see support at the bottom of the rising trendline. Gold also has significant resistance where its 200 SMA is which also happens to be its 200 DMA.

This is gold on the 1D timeframe to show price retracing from its 200 DMA. This candle looks bearish already and could lead price down to support around $1798.

A1 Edgefinder

Smart Money Tracker
See where big money is flowing with the A1 Edgefinder's smart money tracker! With one click, see where the biggest money flows are entering and exiting through COT data.

10% off code: 'READER'

GET ACCESS NOW

VIP discord

Trade Alerts, Strategies, Chatrooms & more!

10% off code: 'READER'

LEARN MORE
What To Take Away From Powell's Remarks

Today, Fed chairman Jerome Powell spoke on the labor market and inflation. While we don't know what the future holds for the equities and currency market, we can derive certain conclusions from investors' interpretations. Here are some powerful takeaways from Powell's remarks this afternoon. Key takeaways Market Impact This caused the dollar and equities to […]

Read More
What To Expect From Today's FOMC

Today at 2:00 pm EST, the Fed will announce their latest interest rate decision. Estimates suggest a smaller hike of 25 basis points this time around. Here are some things to consider before the FOMC decision later today: The Fed has struggled to tighten their grip on inflation without causing too much disturbance in the […]

Read More
The Art of Not Trading

With the holiday season lingering on and a new year on the cusp of arrival, traders may glance at the calendar and notice there is not much economic news to anticipate on Friday to cap off a light week. In situations like these where there can be lulls in bullish and bearish momentum due to […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
VIP
Menu
homesmartphonelaptopmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram