Gold (1H) - intraday bullish bias
The precious metal is about to break out of its 3-day-long triangle consolidation. With the Fed widely expected to lower the interest rates by 25 basis points later today, bullion has room for a broader rally, especially if officials' tones appear to be more dovish in their forward guidance. 1493 is a major support in the short-term, and 1520 is the immediate target on the upside.
The precious metal is about to break out of its 3-day-long triangle consolidation. With the Fed widely expected to lower the interest rates by 25 basis points later today, bullion has room for a broader rally, especially if officials' tones appear to be more dovish in their forward guidance. 1493 is a major support in the short-term, and 1520 is the immediate target on the upside.