There was an opportunity to open short trades from the MA55 balance line and to fix some small profit during European trading session. You had a chance to protect your positions or fix trades as dynamics was limited and there was no sense to wait for better results. We advise to pay attention to the FOMC meeting today as we expect some sharp fluctuations.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. XAU/USD still press down and we think it is probable that the precious metal is going to return to 1100,00 this month.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to take no decisions today as the situations is still unclear.
Silver is fluctuating within an established triangle. We think that today further precious metals’ dynamics becomes clear. FOMC is going to release its monetary policy decision and further outlooks.
There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price went upwards last week but we think that XAG/USD growth is done and the negative dynamics is going to take pace this week.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to take no decisions today as the situation is still unclear.