Gold Price Analysis: Sideways Now, Big Move After Fed Rates?
Gold (XAU/USD) is currently trading near 3645 levels, consolidating inside a contracting wedge after its recent strong bullish rally. The overall trend remains positive, but momentum has slowed as markets await the upcoming Federal Reserve rate decision on Wednesday, which is expected to bring volatility. If the Fed signals further easing or a dovish stance, gold could attempt another push higher, breaking the 3675 resistance and aiming toward 3700–3730. However, if the Fed maintains a cautious or less dovish tone, profit-taking may accelerate and trigger a pullback.
The key level to watch on the downside is the 3625–3600 support zone; a clear break below this area could open the door toward 3565 and 3531, with deeper correction possible to 3498. Traders should stay cautious and wait for confirmation: a break above 3675 would confirm bullish continuation, while a drop below 3600 would favor short setups targeting lower support levels. Until then, gold remains in a neutral-to-bearish consolidation phase, with the Fed decision likely to provide the breakout trigger.
📊 Trend Analysis
- Overall trend since late August has been strong bullish, but momentum has slowed in the past few sessions.
- Price is now consolidating in a wedge/triangle formation.
- Current price action is sideways-to-bearish within consolidation, indicating possible pullback/reversal setup if support breaks.
- As long as 3675 isn’t broken decisively, risk of retracement remains toward 3565 – 3530 area.
🔑 Key Levels to Watch
- Resistance: 3670 – 3680
- Support: 3625 – 3600
🎯 Trade Setup
- Sell Bias (Short-Term):
- If price fails to break 3645–3650 resistance and breaks below 3625–3600 support zone, it can trigger a sell trade.
- Sell Trigger: Break & close below 3600.
- Targets: 3565 → 3531 → 3498.
👉 Trend Right Now:
Gold is in a short-term consolidation / bearish bias inside the wedge. The major bullish rally has already slowed down, and price is struggling to break above 3645–3650 resistance. Unless gold decisively breaks 3675, the current move looks more like a distribution phase before a pullback.
- So, near-term trend = sideways-to-bearish (towards 3600 → 3565 → 3530)
- Long-term trend = still bullish, as long as price holds above 3530–3498 support.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
The key level to watch on the downside is the 3625–3600 support zone; a clear break below this area could open the door toward 3565 and 3531, with deeper correction possible to 3498. Traders should stay cautious and wait for confirmation: a break above 3675 would confirm bullish continuation, while a drop below 3600 would favor short setups targeting lower support levels. Until then, gold remains in a neutral-to-bearish consolidation phase, with the Fed decision likely to provide the breakout trigger.
📊 Trend Analysis
- Overall trend since late August has been strong bullish, but momentum has slowed in the past few sessions.
- Price is now consolidating in a wedge/triangle formation.
- Current price action is sideways-to-bearish within consolidation, indicating possible pullback/reversal setup if support breaks.
- As long as 3675 isn’t broken decisively, risk of retracement remains toward 3565 – 3530 area.
🔑 Key Levels to Watch
- Resistance: 3670 – 3680
- Support: 3625 – 3600
🎯 Trade Setup
- Sell Bias (Short-Term):
- If price fails to break 3645–3650 resistance and breaks below 3625–3600 support zone, it can trigger a sell trade.
- Sell Trigger: Break & close below 3600.
- Targets: 3565 → 3531 → 3498.
👉 Trend Right Now:
Gold is in a short-term consolidation / bearish bias inside the wedge. The major bullish rally has already slowed down, and price is struggling to break above 3645–3650 resistance. Unless gold decisively breaks 3675, the current move looks more like a distribution phase before a pullback.
- So, near-term trend = sideways-to-bearish (towards 3600 → 3565 → 3530)
- Long-term trend = still bullish, as long as price holds above 3530–3498 support.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Pesanan dibatalkan
Gold has broken above the 3675 resistance and advanced toward 3700. It still has room to rise toward the 3720–3730 zone, and if the Fed takes a dovish stance, the 3740–3750 area could be the final upside target for the moment.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.