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Gold Signal - Federal Reserve Meeting - 20 Sep 2016

Signal details
Entry Price: 
1315
Close Price: 
1314
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
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Gold prices should remain upbeat running into the Federal Reserve meeting tomorrow. The price of the yellow metal is particularly sensitive to interest rates decisions to be made by the U.S. Fed. As the central bank is expected to refrain from rising rates tomorrow, we could see some buying into the meeting of the Federal Reserve Open Market Committee.

We are looking at the chart, seeing some patterns that are supporting our bullish view on gold. The price has managed to close above the key $1304 level last week and is expected to show resilience even if the Fed states that it is likely to move in the coming months. We are going to buy call binary options at the $1315 level to support our views into the expiration at 20:00 GMT later today.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.