🔺Related Information: (XAU/USD)
Gold (XAU/USD) continues to trade in a narrow, sideways range near the key $5,000 psychological level for a third consecutive session on Wednesday, as investors remain cautious ahead of the highly anticipated FOMC decision. The US Federal Reserve (Fed) is widely expected to leave interest rates unchanged following its two-day policy meeting. However, attention will center on the accompanying statement and revised economic forecasts, particularly the dot plot. In addition, remarks from Fed Chair Jerome Powell during the post-meeting press conference will be closely analyzed for further insight into the future path of interest rates, especially amid concerns that escalating conflicts could drive inflation higher. The outcome is likely to shape US Dollar (USD) movements and offer fresh direction for the non-yielding precious metal.
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📌 Chart analysis:
🔗 Short-term timeframes: M15, M45, H1
M15: Formation of a bearish breakout at 4997, selling pressure.
The short-term chart is still consolidating above 5070.
Short-term timeframes: are moving below the EMA lines.
🔗 Medium-term timeframes: H2, H4
Accumulation below 5000 indicates selling pressure as the EMA lines move further away.
Key zones:
🔗 Supply zone (resistance): 4997, 5040 , 5072
🔗 Demand zone (support): 4942, 4907
🔗 Three EMA moving averages; technical indicators: stochastic, volume
set up signal : 🔗 SELL XAU 5070 - 5075 stoploss: 5080
Take profit : 5045 - 5010 - 4967
🔜🔜🔜🔜🔜🔜🔜🔜🔜🔜
✏️ Personal opinion:
Asian session: Selling pressure formed a solid bearish BOS on the H1 chart, with a downtrend below the 5000 accumulation zone ahead of the FOMC meeting.
📥 Follow us for the most accurate gold price trends.
Gold (XAU/USD) continues to trade in a narrow, sideways range near the key $5,000 psychological level for a third consecutive session on Wednesday, as investors remain cautious ahead of the highly anticipated FOMC decision. The US Federal Reserve (Fed) is widely expected to leave interest rates unchanged following its two-day policy meeting. However, attention will center on the accompanying statement and revised economic forecasts, particularly the dot plot. In addition, remarks from Fed Chair Jerome Powell during the post-meeting press conference will be closely analyzed for further insight into the future path of interest rates, especially amid concerns that escalating conflicts could drive inflation higher. The outcome is likely to shape US Dollar (USD) movements and offer fresh direction for the non-yielding precious metal.
🔜🔜🔜🔜🔜🔜🔜🔜🔜🔜
📌 Chart analysis:
🔗 Short-term timeframes: M15, M45, H1
M15: Formation of a bearish breakout at 4997, selling pressure.
The short-term chart is still consolidating above 5070.
Short-term timeframes: are moving below the EMA lines.
🔗 Medium-term timeframes: H2, H4
Accumulation below 5000 indicates selling pressure as the EMA lines move further away.
Key zones:
🔗 Supply zone (resistance): 4997, 5040 , 5072
🔗 Demand zone (support): 4942, 4907
🔗 Three EMA moving averages; technical indicators: stochastic, volume
set up signal : 🔗 SELL XAU 5070 - 5075 stoploss: 5080
Take profit : 5045 - 5010 - 4967
🔜🔜🔜🔜🔜🔜🔜🔜🔜🔜
✏️ Personal opinion:
Asian session: Selling pressure formed a solid bearish BOS on the H1 chart, with a downtrend below the 5000 accumulation zone ahead of the FOMC meeting.
📥 Follow us for the most accurate gold price trends.
Trade active
Gold price drops sharply ahead of the FOMC, falling below 4900.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.