EUR/USD ran corrective bullish to 1.1062 and expected to enter bearish corrections until hitting support level at 1.1024. Later, expect a rebound from resistance level at 1.1094.
After treading water in the periods leading up to FOMC, Gold finally advances to USD1339 in a corrective bullish manouver. The precious metal's upsurge was apparently boosted by FED's unchanged rate. Still, Gold rose in a predicted range of ABC correction.
Gold price falls flat at USD1317 ahead of FOMC result, but is looking to break USD1325 resistance in view of Elliot Wave analysis. Market is currently anticipating for FOMC, in which FED is expected to make no policy change.
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EURUSD was tracked corrective bullish around 1.0988 and expected to reverse as bearish signal to support level at 1.0951 as emulated by wave iii (chart can be viewed inside)
Amidst FOMC and BoJ's anticipation, Gold resumes corrective bearish movement to USD1316 but is still forecasted to make a bullish rebound and head to USD1342 resistance in an attempt to complete the end of wave B.
EUR/USD sloped down to 1.0960 last Friday and expected to remain bearish until hitting support level around 1.0911 as emulated by wave 3 (chart can be viewed inside)
Gold takes a corrective bearish turn at USD1322, but is preparing to rebound in all likelihood with the end of wave b at 50 FIBO (USD1342) as the final target. The precious metal changed direction as FOMC and BoJ's meeting loom on the horizon.
Gold switches to corrective bullish form at USD1332, but may turn back and head south to USD1325 support level. ECB opted to leave interest rates at record lows, but hinted for more monetary accommodation in the near future.
