Gold set to gain?
Technically gold has put in a strong rejection of lower prices with a decent daily hammer candle and a false break of the Inside bar on the weekly chart. The Fed have not been as hawkish as feared and were largely in line with expectations, so we have a kind of buy the rumour sell the fact response.
There is now around a 90% chance of an April hike, but the Fed’s longer term view is unchanged. Inflation is still expected to be transitory, so bottom line has been the Fed have only added one hike to their forecast horizon. USD selling off and gold seasonals are fantastic at this time of year.