GOLD: Corrective Structure is coming?

OANDA:XAUUSD   Gold Spot / U.S. Dollar
From a technical point of view, Trend is bullish on Daily and Intraday charts. At the same time, if we look at 1H chart, our impulsive structure 12345 could soon be completed, and this bullish consolidation (we are currently still working wave 5) could become an interesting opportunity to sell Gold as a tactical strategy. From our point of view, it might be interesting to try to sell this rally above 2,020 area.
What do you think about it? ..and what could be the closest Target in your opinion?

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🔴 Gold was flat on Wednesday ahead of the Federal Reserve's policy decision, while all eyes will be on Chair Jerome Powell's speech later for guidance on rate path.
🔴 Bullion prices have pulled back after surpassing the key $2,000 level last week, supported by strong safe-haven inflows due to growing unrest in the Middle East , helping it register its biggest monthly rise since March in October.
🔴 This is just a long-overdue consolidation following a very strong rally seen in the past three weeks, and prices could drop to at least $1,952, said Ole Hansen, Saxo Bank's head of commodity strategy.
🔴 Investors' focus now shifts to the end of the Fed's two-day monetary policy meeting at 1800 GMT, and Powell's speech at 1830 GMT.

📢 "Although no change in the interest rates is expected, the focus will be on the Fed's assessment of the U.S. economy and clues to the monetary policy going forward," said Praveen Singh, associate vice president at BNP Paribas' Sharekhan.

(from our blog)
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By Anonymous Banker
A TradingView Fan since 2015

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