XAUUSD: Maintain Range Trading

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✅Yesterday, gold closed with a cross star candlestick. Although it once dropped to a low of 2633, it rebounded and closed above 2645 at the end of the trading day, close to the opening price. The overall trend continued to fluctuate slowly, and the key support level below was near 2605, which was the critical point for the short-term long and short competition. The daily trend shows that gold has not yet broken through the range of fluctuations. The current fluctuation pattern is the main one, and attention should be paid to the driving effect of the Fed's interest rate decision on the market.

✅The 4-hour chart shows that gold is in a decomposed oscillation retracement rhythm as a whole: it fell from 2658 to 2633, accompanied by a small rebound correction with alternating ups and downs. The current trend lacks unilateral continuity, presents an oscillation retracement pattern, and the space is gradually compressed. Pay attention to the short-term range of 2660-2630. The rebound and downward exploration strength are both weakening, and there is limited room for further decline. The overall trend is still biased towards bulls.

🟢Upper resistance: 2655-2665
🔴Lower support: 2630-2625

✅Trading strategy
🔰If the price falls back to the 2630-2625 range, consider going long with a light position, and aim at the 2655-2665 resistance zone.
🔰If the gold price rebounds to the 2655-2665 area and encounters resistance, you can try to go short with a light position in the short term, and aim at around 2630.

✅The Fed's interest rate decision may provide a directional breakthrough for the market, and it is recommended to pay attention to the market trend after the decision.

١٨ ديسمبر ٢٠٢٤

تم فتح الصفقة

Federal Reserve interest rate decision: The market expects the Federal Reserve to cut interest rates by 25 basis points. The Chicago Mercantile Exchange's "Fed Watch Tool" shows that the probability of this rate cut is as high as 99%, and predicts that the Federal Reserve will cut interest rates by a cumulative 100 basis points in 2025. The Fed's updated economic forecasts and dot plot may reshape market expectations for the future trajectory of interest rates. Federal Reserve Chairman Powell will hold a monetary policy conference, and the market will look for clues about future policy.