Gold Recovers 1000 Pips Ahead of FOMC: Key Levels in Focus

📊 Market Overview

After a sharp selloff that shook long positions, Gold has rebounded nearly 1000 pips, recovering from the 388x area toward 398x ahead of the upcoming FOMC meeting.
Despite the short-term recovery, Gold remains down around 3.5% this week, reflecting cautious sentiment as traders reposition before the Fed decision and amid fading U.S.–China trade tensions.

Currently, price is trading near $3,980–3,990 during the Asian session, consolidating under the psychological $4,000 zone.

💎 Technical Outlook (H1–M15)

Gold continues to trade within a short-term ascending channel, forming a corrective recovery inside a broader downtrend.

Immediate Support Zones:
• 3,961 – 3,937 → Trendline retest & OBS Buy Zone
• 3,918 → Structural invalidation area

Resistance & Key Reaction Levels:
• 4,018 – 4,085 → Mid-term key resistance
• 4,094 – 4,102 → Major Sell Zone (Fibo 1.5–1.618 confluence)

📍If Gold breaks and holds above 4,018, momentum could extend toward 4,085 – 4,102, where strong selling pressure may reappear.
📍If the price rejects at 4,094 – 4,102, expect a corrective move back toward 3,961 – 3,937, aligning with the channel base and trendline retest.

🌍 Macro Context – FOMC Ahead

Markets expect the Fed to cut rates by another 25bps, following September’s “risk management” cut.
However, if Powell’s tone turns hawkish, Gold could face renewed downside pressure as rate-cut expectations fade, particularly for December.
Conversely, a cautious or dovish tone emphasizing inflation risks and slower growth could boost Gold above $4,100 in the short term.

Meanwhile, easing trade tensions between the U.S. and China and the ongoing equity rally may continue to limit safe-haven demand.

🧭 Summary

Gold is holding a short-term recovery bias, yet the medium-term trend remains fragile ahead of the FOMC.
Expect volatility around the 4,000–4,100 zone, with the Fed statement likely to set the next major direction.

🛡️ Stay patient — liquidity builds before clarity, and key reactions around $4,094–4,102 will reveal the next macro impulse.