The Fed's interest rate decision is highly anticipated, and the question remains whether gold bulls can stage a comeback. Gold is currently in a rebound and correction phase after an oversold condition. It's premature to declare a complete reversal of the bullish trend. Gold's rebound from its lows suggests a period of consolidation in the short term, awaiting the Fed's decision to determine its direction.
The 1-hour moving averages for gold continue their downward crossover, indicating that the bullish momentum hasn't fully materialized. However, there is gradually building support at lower levels. If a strong upward surge occurs before the Fed's decision, the bullish momentum may wane afterward. A break above 4020 would confirm a true V-shaped reversal for gold. Failure to break through 4020 suggests continued range-bound trading, with support around 3890. A hold above 3890 would likely lead to a rebound.
With the Fed's interest rate decision looming, let's wait patiently. Whether gold has finished its correction and whether the bulls have begun their counterattack remains to be seen. We'll observe the strength of the bulls after the Fed's decision. If gold breaks through and holds above 4020, the short-term upward momentum will increase.
Trading Strategy: Sell gold at 4010-4020, with a target of 3950-3930.
The 1-hour moving averages for gold continue their downward crossover, indicating that the bullish momentum hasn't fully materialized. However, there is gradually building support at lower levels. If a strong upward surge occurs before the Fed's decision, the bullish momentum may wane afterward. A break above 4020 would confirm a true V-shaped reversal for gold. Failure to break through 4020 suggests continued range-bound trading, with support around 3890. A hold above 3890 would likely lead to a rebound.
With the Fed's interest rate decision looming, let's wait patiently. Whether gold has finished its correction and whether the bulls have begun their counterattack remains to be seen. We'll observe the strength of the bulls after the Fed's decision. If gold breaks through and holds above 4020, the short-term upward momentum will increase.
Trading Strategy: Sell gold at 4010-4020, with a target of 3950-3930.
Transaction en cours
"The market is always right; what's wrong is judging the direction." The current correction in the gold market is both a technical correction and a repricing of fundamentals. After all, the real opportunities often lie hidden in the market's most hesitant moments.Trade fermée: cible de profit atteinte
The gold price rebounded to a peak of 4029, but was eventually stopped from rising and fell below 4010. This is in line with the article's statement that it was only a rebound and not a reversal. Traders who followed the signals to enter the market have currently achieved considerable profits. Please closely monitor your orders and stop the trade at any time. I will no longer notify you. If you need real-time signals, you can contact me.
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Join my telegram channel for free t.me/GoldBitcoinSharing To follow the link, click on the globe icon on the next line
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.