Gold Price Forecast: XAU/USD bulls clean up within daily range Gold DollarIndex Commodities Fed
Market bets against a Fed hike and US Dollar is under pressure.
, DXY, hit a 2-week low as the Federal Reserve is now expected to leave interest rates unchanged when its policy committee meets next week. The CME Fedwatch tool is seeing only a 25% probability that the central bank will raise rates again. Gold prices continue to toe the line near the psychologically important $1,960/oz range, analysts at TD Securities noted. ''While these liquidations may have dampened the implications of a surprise hike from the Fed this June, gold bugs are not out of the woods just yet.''From a 4HR perspective, a bullish bias could be drawn with the price targetting the highs.shows the price coiled in a triangle which could lead to a breakout to the upside to target above the equal highs.
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