GOLD → Lower interest rates are ahead. A stalemate... ↑↓
Updated
XAUUSD is consolidating between 2588 - 2562. But, buyers are not yet out of the game in the hope of continued growth. Then everything depends on the Fed. Welcome to the casino :) At 18:30 the FOMC & FED will meet to decide whether to cut rates. 0.25% or 0.5%. A 0.5% Fed rate cut could send a mixed signal about the state of the US economy: the Fed's concern about the economy, and that a “soft landing” may not turn out to be so soft, but it would be a strong bullrun signal for gold. A weaker policy, could provoke an unpredictable reaction, which would temporarily disappoint investors. In such a case, a correction to 2550-2525-2500 may form (price may bounce from any zone shown on the chart) before a further global rally, as the general tone of the market is set by the global Central Bank's interest rate cuts....
Resistance levels: 2575, 2588, 2600, ...
Support levels: 2561, 2550, 2530
It is difficult to say about expectations, as the uncertainty is high due to the fact that the overall situation is stalemate, either this way or that way. I recommend to refrain from trading on the news and wait for the volatility to decrease. The trading range for today is very wide....
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Regards R. Linda!
Trade active
Updating the local high, but coming back down.
Price is trading from the boundaries of the local range.
Traders are waiting for the news...
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NO‼️
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Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
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🔴Contact:
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🧿Web: rlinda.com
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