
Forex&XauUsd analyses for 20.09.2023
Gold- Will Fed be the trigger for a new leg up?
Yesterday was a very quiet day for Gold, with the price fluctuating in a tight range.
With FED expected to make no move on rates, the more important is the press conference after, which could trigger a new rise for Gold.
Technically, things have been unchanged since yesterday, with a high probability of a bottom in place.
As explained yesterday, a clear break above the 1935 zone would expose the 1980 and 1953 recent high as interim resistance.
I remain bullish as long as the 1910-1915 zone is intact.

EurAud- 1.63 remain my focus
In my 13 September post regarding EurAud, I wrote that a top could be in place and the pair could drop under horizontal important support. This happened the next day and on 15 September, the pair made a low of around 1.6450.
Now EurAud is in a normal up-correction and this could offer a good opportunity for sellers to enter the market at a better price.
In conclusion, rallies above 1.66 should be sold with the same 1.63 zone target and negation above the new resistance.

Dxy looks tired
I’ve been bullish DXY since the end of July after we had the confirmation that the break down was a false one and indicated the 105.50 zone as the potential target in the medium term.
The target was hit last week and now the index is consolidating and a correction could follow.
However, the trend remains up and a new spike above the recent high is possible.
Confirmation for a drop comes with a break under the rising wedge support in which case 104.50 could be bears’ target.

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