From TradingView · · 50s
Gold H1 Analysis: Bearish Bias Ahead of FOMC
Gold faces bearish pressure as FOMC meeting looms, with key sell zones near 4,355-4,370
In brief
Gold faces bearish pressure as FOMC meeting looms, with key sell zones near 4,355-4,370 Gold should target 4,250-4,262 if it breaks 4,350-4,365 resistance Originally reported by TradingView.
Gold near 4,328
Gold recovered 0.8% as investors awaited Fed's decision, with 92.4% probability of 25 bps rate hike
Key Sell Zone
4,355-4,370 acts as critical supply zone near long-term EMA 4,362 and descending trendline
Current Price Action
Price trades near 4,315-4,305 with medium-term EMA at 4,306, offering poor risk-to-reward for trades
Buy Zone Opportunity
4,250-4,262 could form bullish reversal if gold drops sharply and shows rejection
FOMC Impact
Fed's decision and Powell's remarks will drive significant volatility in gold prices today
Economist Forecast
86% of economists expect Fed rate hikes within next 12 months, up from 46% last month
The big picture
Gold should target 4,250-4,262 if it breaks 4,350-4,365 resistance
