XAU/USD declined again and is trading within the triangle at the moment. There is a probability to break through the lower side of the triangle. We expect the price to continue trading withing this range during the next couple of days (until Wednesday, when the results of FOMC meetings are published). Investors are bullish as they think interest rates in the USA may be increased this year. At the moment about 50% of market participants expect FOMC to raise rates in December (or before the last month of the year).
There is the uptrend on the Weekly chart as the price is above the MA55. FOMC decision and forecasts may significantly influence quotes fluctuations.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is below the MA55. We advise to avoid trading today as there is no clear tendency on the chart.
Silver price is also within a range and may stay here for the next couple of days before the FOMC meetings. Further fluctuations depend on results of this event.
There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD may decline this week.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is below the MA55. We advise to avoid trading today as we expect no trend during the next 24 hours.