Gold Market Update: Indecision Dominates Ahead of FED
Yesterday, 
XAUUSD broke below the key confluence support at 2645.
However, the drop lacked meaningful follow-through. After reaching a local low at 2633, the price reversed and closed right at the confluence level.
As of now, gold remains virtually unchanged from Friday's close. Monday saw a spike up to 2665, while yesterday marked a dip to 2633, reflecting market indecision.
Technical Perspective:
At the time of writing, gold is trading below this critical level, currently at 2643. If the break below support proves genuine, bears will likely target the 2610-2615 zone, as highlighted in my previous analyses.
Conversely, if the price climbs back above 2655, the recent dip would be considered a false breakout, shifting the focus to the upside, with the 2680 zone as the next target.
FED's Influence:
The market awaits clarity from the Federal Reserve’s announcement and press conference today, which could provide direction for gold in the coming days.
XAUUSD broke below the key confluence support at 2645. However, the drop lacked meaningful follow-through. After reaching a local low at 2633, the price reversed and closed right at the confluence level.
As of now, gold remains virtually unchanged from Friday's close. Monday saw a spike up to 2665, while yesterday marked a dip to 2633, reflecting market indecision.
Technical Perspective:
At the time of writing, gold is trading below this critical level, currently at 2643. If the break below support proves genuine, bears will likely target the 2610-2615 zone, as highlighted in my previous analyses.
Conversely, if the price climbs back above 2655, the recent dip would be considered a false breakout, shifting the focus to the upside, with the 2680 zone as the next target.
FED's Influence:
The market awaits clarity from the Federal Reserve’s announcement and press conference today, which could provide direction for gold in the coming days.
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