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VasilyTrader
Jun 11, 2023 7:23 AM

Gold (XAUUSD): FED Interest Rate Decision Ahead 🟡  Short

GoldOANDA

Description



On Wednesday, we are expecting a FED interest rate decision.
Gold will most likely will remain very calm until then.

On a daily time frame, the price is currently trading within a horizontal range.
Bullish news will trigger a breakout of its upper boundary.
Daily candle close above will confirm a violation.
A bullish continuation will be expected at least to 2006 level then.

Alternatively, a bearish breakout of the support of the range and a daily candle close below
will trigger a selloff. A bearish continuation will be expected to 1900.

Smart money are already accumulating their positions.
Watch the intraday price action around the release of the news for the clues.

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Comments
Lala33
Nice 💕💕
FirstNameHelen
Very good technical overview, thank you
AnabelSignals
I had same thoughts!
VasilyTrader
Do you agree with my analysis?
jngforex
@VasilyTrader on Tuesday we have CPI, so that is a key event that you've missed before Wednesday's FOMC.
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