Oro / Dollaro
Long

Gold - Long Position Setup

539
FOMC Statement and the press conference to follow will determine the medium-term direction of gold prices.
This is a long position setup which is based on a strong reaction form EMA50. Setup is as follows:
- FED is dovish on Wednesday.
- Pricing faces tough reaction from EMA50 level around 1290-1295.
- EMA10 can not cross EMA25.
- Stochastic indicator rebounds from oversold level 20.

Buy at (1290-1295) with target level 1375 (June.2016 high). This might be the fifth wave of the July-September rally starting from 1205.

Breaking of EMA50 would be a clear sign of reversal, not a retracement !!!

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