From TradingView · · 50s
Gold Price Drops Below 4,070 as FOMC Press Conference Approaches
Gold price falls below 4,070 ahead of FOMC press conference.
In brief
Gold price falls below 4,070 ahead of FOMC press conference. Gold price dropped below 4,070 on the 3H chart as the FOMC press conference approaches. Originally reported by TradingView.
Gold Price Drops Below 4,070
Gold price dropped below 4,070 on the 3H chart as the FOMC press conference approaches.
FOMC Press Conference Key Event
The Fed statement was released at 11:00 PM PKT with headlines reporting a hold, and the press conference at 11:30 PM PKT is the key event.
Market Structure Analysis
Gold remains bearish on the 3H chart with a corrective bounce rejected at the descending trendline near 4,070.
Bullish Confirmation Needed
A bullish ChoCh appeared but requires a 3H close above 4,073 for confirmation.
What to remember
Gold price dropped below 4,070 on the 3H chart as the FOMC press conference approaches.
