GOLD|Surge: Targeting $4,100! Where to Buy Ahead of FOMC Minutes

Oct 8

Hello TradingView community! 🚀

Gold (XAU/USD) continues to demonstrate incredible strength, consistently breaking past old highs and forming a solid upward price channel. This robust rally is not only technically reinforced but is also awaiting a potential catalyst from today's crucial fundamental news.

In this analysis, we will combine two key perspectives: a deep dive into the technical chart to identify optimal entry points, and an examination of the main fundamental event that could significantly impact Gold prices during the US session.

1. Fundamental Perspective: All Eyes on FOMC Minutes
Today's market highlight, Wednesday, October 8, is the release of the FOMC Meeting Minutes at 2:00 PM ET.

Why does this matter? The minutes provide a detailed record of the Federal Reserve's most recent policy meeting in September. Traders will scrutinize the text for any hints about the future interest rate path.

Potential scenarios:

"Dovish" Tone: If the minutes reveal that FED officials are concerned about economic growth and open to further rate cuts, the US Dollar may weaken. This would create a strong push for Gold (XAU/USD), potentially fueling the next price surge.

"Hawkish" Tone: If the minutes emphasize that inflation remains a concern and the FED is not in a hurry to cut rates, the USD may see a short-term recovery, causing Gold to have a corrective dip.

This event is a top catalyst for volatility. Our strategy is to prepare technical zones to capitalize on the market's reaction.

2. Technical Analysis: Detailed Trading Plan
The bullish structure on the 2H timeframe is undeniable. Prices are creating a series of higher highs, confirmed by each "BoS" (Break of Structure), signaling that the Buyers are in full control. Here are the key zones to watch:

Potential Buying Zones (Key Points):

FVG Zone ($4,004): The nearest support is this Fair Value Gap, an area of price imbalance that the market often seeks to fill. Prices may retest this area before or during the news release.

"Buy Break BoS" Zone ($3,981): This is the most recent swing high that has been broken. It has now turned from resistance into a crucial support level. This zone provides a solid entry point if prices correct a bit deeper.

"Bullish Order Block" Zone ($3,951): This is the last major "stronghold" of the Buyers—a strong buy order block that initiated the latest push wave. This is an ideal area to look for buy orders if the market makes a strong liquidity sweep downward.

Upside Targets:

Short-term target (Scalping): $4,070 - This level coincides with the 0.786 Fibonacci level.

Main target: "Liquidity Sell" Zone at $4,103. This is a large "liquidity pool" where the Sell side's stop-loss orders are likely concentrated. Smart money often drives prices towards such areas.

Strategy Summary
Main trend: Bullish.

Core strategy: Look for "Buy the dip" opportunities at the key support zones mentioned.

Critical timing: Be cautious around the FOMC Minutes release (18:00 UTC). Volatility can be high, and the market may whip in both directions to sweep stop-losses before following the main direction.

Pro tip: Patience is key. Waiting for prices to pull back to a confirmed support zone will provide a much better Risk/Reward ratio than chasing the market at the highs.

WHAT'S YOUR TAKE?

How do you think Gold will react to today's FOMC minutes? And where are you looking to place your buy orders—at the FVG zone $4,004, the BoS level $3,981, or are you patiently waiting for the Order Block $3,951?

Share your thoughts in the comments below!

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Oct 9

Trade active

🟡 XAU/USD – Update: Fed cuts rate by 0.5%, 4004 holds firm – Target 4100

Gold bounced as planned after the Fed’s 0.5% rate cut, hitting 4004 and gaining over 380 pips.
Weak USD, lower yields, and safe-haven flows keep supporting the uptrend.

Price retested 4004 twice — buying pressure remains strong.
Trade set to BE, target 4100.

📈 Resistance: 4100
📉 Support: 4004 – 3980

👉 Watch the 4004 zone closely – if it holds, gold could keep rallying!
💬 Are you holding or staying out? Share your view!