Be cautious going into this evening as the Fed will be speaking on some of the issues at hand and so we could see a slow day in the markets. Although we have not hit our objective yet we have moved significantly in our direction and we still have a lot of pips up for grabs in the intended direction.
We will be expecting the final targets to be hit today and then we will likely look to book profit and stay sidelined before the Fed talks to avoid unnecessary risk. Note that the speaker today may significantly impact the price of gold this evening. Long term we are bullish in gold but short term we could see a small decline once we hit our upside target.
Our target is 1.1170
Our target is 1.2440
Our target is 1.3855
Our target is 1680.00