Gold is consolidating and showing signs of bullish strength, rebounding from the upper trendline today. With the FOMC meeting approaching, markets are focused on the Federal Reserve’s guidance on future interest rate cuts. Expectations for lower rates generally weaken the U.S. dollar—supportive for gold.
Gold briefly slipped but continues to hold above the key 4,200 level. Price has been testing support repeatedly, rebounding each time without a decisive break in either direction. This suggests indecision as traders await the Fed statement and Powell’s comments.
The major news event (FOMC) could create the volatility needed for price to break out of the current range. If support continues to hold, gold may resume its bullish structure.
Technically if the support holds and price could react highly we could expect price growth towards the upper side resistance at 4242 to 4280, remember may price could test the support 4192 / 4180 and could reacts again upside momentum.
You may find more details in the chart,
Trade wisely best of luck buddies.
Ps; Support with like and comments for better analysis thanks for supporting.
Gold briefly slipped but continues to hold above the key 4,200 level. Price has been testing support repeatedly, rebounding each time without a decisive break in either direction. This suggests indecision as traders await the Fed statement and Powell’s comments.
The major news event (FOMC) could create the volatility needed for price to break out of the current range. If support continues to hold, gold may resume its bullish structure.
Technically if the support holds and price could react highly we could expect price growth towards the upper side resistance at 4242 to 4280, remember may price could test the support 4192 / 4180 and could reacts again upside momentum.
You may find more details in the chart,
Trade wisely best of luck buddies.
Ps; Support with like and comments for better analysis thanks for supporting.
Trade active
1st target reached
Trade closed: target reached
Join My telegram Channel
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
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.
Join My telegram Channel
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
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.