As the recent market fluctuations come to an end, it's time to approach this week's Federal Reserve meeting with your eyes wide open. Iman Profit's exclusive roadmap, based on the data from the bank giants (ING, MUFG, and Agricole), is presented to you below:
After analyzing the current market trends, we've identified the following key points:
- ING: The dollar's weakening trend is reversing! Banks are closing their short dollar positions as inflation is rising above 4% due to the surge in energy prices.
- Credit Agricole: The high yields of American bonds are attracting money towards the dollar, making it a significant barrier for gold's ascent to $4300.
- MUFG: The core inflation rate of 2.9% is a positive sign, but the overall inflation rate of 4.2% has left the door open for a hawkish stance by the Fed in its Wednesday meeting.
2. The Day of Fate (Wednesday Night - FOMC Meeting)
21:30 - Press Conference with Paul
The market is expecting a hawkish tone from Paul, which could lead to:
- Hawkish Tone: Emphasis on the 4.2% energy inflation rate ⬅️ Gold plummeting to $4187 and $4110.
- Dovish Tone: Emphasis on the 2.9% core inflation rate ⬅️ Gold rallying to $4300 and beyond.
3. Iman Profit's Golden Levels (XAUUSD)
Critical Support: $4187-$4200 (the last stronghold of the buyers before a decline)
Confirmation of an Uptrend: Strong break above $4240
- Target for the Week: $4273-$4300
Exclusive Note: This week's trade will be independent of the Dollar Index (DXY). As long as the dollar remains below its previous week's high, gold's ascent to $4300 will be a "probable weakening" scenario.
Trading is about Risk Management, not Predicting the Future! Stay tuned for live updates and entry points in the Iman Profit channel.
— @ImanProfit
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