Lingrid | GOLD Post-FED Shakeup. Possible Bearish Opportunity

anteayer

The price perfectly fulfilled my previous idea. It hit the TP. XAUUSD made a sharp decline after FED rate decision and FOMC. The price broke and closed below the lows of the past three weeks, which could lead to a fake breakout, so we should closely monitor the price action. Additionally, it broke and closed below the trendline that had supported the price for over a month. I think the market may gradually move down toward last month's low by the end of the year. With high-impact news coming today, there is potential for unexpected moves. Overall, I expect the market to bounce off the upward trendline and the resistance zone around 2640-2650, followed by another bearish move. My goal is support zone around 2570

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

ayer

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The gold market made a downward movement yesterday and is currently trading sideways after bearish impulse move. The price action is forming either a triangle pattern or a bearish flag pattern, both of which are typically considered trend continuation patterns. I think that the market will oscillate around the 2600 level, moving back and forth, before ultimately trending lower to close the week with a bearish weekly candle. Additionally, I expect the market to retest the resistance before initiating this bearish move. If resistance holds, it would be a sign of continuation of the prevailing downward trend. My goal is support zone around 2567