🔍 Chart Overview
Timeframe: 45-minute
Instrument: XAU/USD (Gold Spot)
Current Price: ~$3,300
Key Event: Upcoming FOMC decision (Federal Open Market Committee)
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📈 Trend Analysis
1. Previous Uptrend (July 17–23)
A strong bullish rally started from around $3,285, reaching a consolidation top near $3,440.
This uptrend is highlighted with a blue rising channel.
The rally lost steam near resistance, forming a distribution zone (boxed range at the top) — a classic sign of potential reversal.
2. Bearish Reversal (July 24–29)
Price broke down from the consolidation and entered a well-defined descending channel (highlighted in red).
The move was steep, forming lower highs and lower lows, confirming a short-term bearish structure.
The drop continued until price revisited the origin of the last rally (~$3,285–$3,290 zone).
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🔑 Key Levels
Support Zone: ~$3,285–$3,290 (green arrows, prior rally base)
Resistance Zones:
Minor: ~$3,320
Major: Target zone at ~$3,350
Key: ~$3,440 (previous high)
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🔮 Forecast & Scenario Planning
Bullish Scenario (Blue Path)
Price is currently bouncing off the $3,285–$3,290 support.
If it breaks and holds above $3,320, a bullish continuation could aim for the $3,350 resistance.
This setup aligns with FOMC-induced volatility—a dovish or neutral Fed could fuel bullish momentum.
Bearish Risk
If price fails to reclaim $3,320 and breaks below $3,285, expect a deeper pullback possibly targeting $3,260 or lower.
Increased bearish pressure could be triggered by hawkish Fed signals or stronger USD data.
---
📅 Fundamental Catalyst
FOMC Meeting (highlighted on chart) is the key macro event. Depending on the Fed’s tone (rate hike, pause, or cut), gold can experience strong directional movement.
Market expectations will focus on inflation outlook and interest rate guidance.
Timeframe: 45-minute
Instrument: XAU/USD (Gold Spot)
Current Price: ~$3,300
Key Event: Upcoming FOMC decision (Federal Open Market Committee)
---
📈 Trend Analysis
1. Previous Uptrend (July 17–23)
A strong bullish rally started from around $3,285, reaching a consolidation top near $3,440.
This uptrend is highlighted with a blue rising channel.
The rally lost steam near resistance, forming a distribution zone (boxed range at the top) — a classic sign of potential reversal.
2. Bearish Reversal (July 24–29)
Price broke down from the consolidation and entered a well-defined descending channel (highlighted in red).
The move was steep, forming lower highs and lower lows, confirming a short-term bearish structure.
The drop continued until price revisited the origin of the last rally (~$3,285–$3,290 zone).
---
🔑 Key Levels
Support Zone: ~$3,285–$3,290 (green arrows, prior rally base)
Resistance Zones:
Minor: ~$3,320
Major: Target zone at ~$3,350
Key: ~$3,440 (previous high)
---
🔮 Forecast & Scenario Planning
Bullish Scenario (Blue Path)
Price is currently bouncing off the $3,285–$3,290 support.
If it breaks and holds above $3,320, a bullish continuation could aim for the $3,350 resistance.
This setup aligns with FOMC-induced volatility—a dovish or neutral Fed could fuel bullish momentum.
Bearish Risk
If price fails to reclaim $3,320 and breaks below $3,285, expect a deeper pullback possibly targeting $3,260 or lower.
Increased bearish pressure could be triggered by hawkish Fed signals or stronger USD data.
---
📅 Fundamental Catalyst
FOMC Meeting (highlighted on chart) is the key macro event. Depending on the Fed’s tone (rate hike, pause, or cut), gold can experience strong directional movement.
Market expectations will focus on inflation outlook and interest rate guidance.
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Clean charts | 🔍 Deep analysis | 📈 Consistent setups”
MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+4KSkqllbBldiZDY8
MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+4KSkqllbBldiZDY8
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.