📈 Retest of upward trend support. Focus on 4200
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GOLD is trading near $4,200, remaining cautious at the start of the week ahead of the Fed's decision. The trend is bullish, with the dollar stagnating. A long squeeze of support could trigger a rebound...
The Fed is expected to cut rates by 25 bps (probability ≈90%). Weak US data supports dovish expectations
Attention is shifting to the Fed meeting and its forecasts for 2026. The lack of important US data today shifts the focus to geopolitics and general market sentiment.
There is not much news this week, but from a geopolitical point of view, attention is focused on Japan-China and Russia-Ukraine-US relations.
Gold is awaiting signals from the Fed. The decision on rates and geopolitical news will determine the direction of the breakout from the current range.
Resistance levels: 4220, 4256
Support levels: 4200, 4195, 4180
The dollar previously broke through the support of the uptrend, but has been stagnating for the past few days. A break below 99.0 could trigger a decline in the index, which could support the price of gold.
Gold is testing the support of the trading range within the uptrend. Focus on the 4200-4195 zone. A long squeeze could trigger growth amid a weak dollar...