From TradingView · · 50s
Gold Price Action Analysis for #XAUUSD
Gold price action near $4,180-4,193 as Fed avoids rate signals.
In brief
Gold price action near $4,180-4,193 as Fed avoids rate signals. Gold consolidates inside $4,180-$4,193 range ahead of October 28 Fed meeting. Originally reported by TradingView.
Fed Chair Warsh
Fed Chair Warsh declined to signal imminent policy move during IMF remarks in Bangkok.
“Fed Chair Warsh declined to signal an imminent policy move during remarks at the imf meetings in bangkok over the weekend”
Fed Rate Probability
FedWatch shows 84.5% chance of unchanged rates this month versus 44% October hike odds.
“FedWatch now shows an 84.5% chance the fed leaves rates unchanged this month”
Gold Price Action
Gold price pushed up from 4,073 lows to test 4,180-4,193 zone before pulling back to 4,175.
“price pushed up from the 4,073 lows, tested the ob h1 zone at 4,180 - 4,193, printed a choch m30 at the top near 4,200, and pulled back toward 4,175”
Key Price Levels
Critical support at 4,160-4,175; resistance at 4,195-4,210 with further resistance at 4,228-4,250.
“near support is 4,160 - 4,175, then 4,140 - 4,148. The critical floor remains 4,066 - 4,073”
Fed Meeting Impact
October 28 Fed meeting is the macro anchor for gold price action this week.
“The setup this week is defined by one date: the fed meeting on october 28”
Trading Strategy
Buy if daily close above 4,200; sell if price rejects 4,195-4,210 zone.
“A daily close above 4,200 would be the first genuine signal that buyers are taking control”
The bottom line
Gold consolidates inside $4,180-$4,193 range ahead of October 28 Fed meeting.
