What to Expect From Gold During U.S. Session?; Feb 14, 2022

What to Expect From Gold During U.S. Session

Today U.S. Economic Calendar is almost empty but traders focus on the U.S. FOMC member Bullard’s speech scheduled at 1600 GMT/2130 IST. Bullard is due to discuss monetary policy in an interview conducted by CNBC. Federal Reserve FOMC members vote on where to set the nation’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

Technical View:

XAU/USD (Gold):

  • The Gold spikes up ahead of U.S. FOMC Member Bullard’s speech.
  • Today pair made intraday high at $1,861 and low at $1,850 mark.
  • A day chart and H1 chart with triple EMA suggest up trend for the time being.
  • A sustained close above $1,861 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,852 on H1 will check further supports.

Take a look and do trade wisely!
Good Luck