Gold market sentiment is positive before the US Federal Reserve's monetary policy meeting.
However, experts warn investors not to expect prices to exceed $2,000 due to the Fed's hawkish stance, even if it decides to pause.
The Fed's decision is the biggest short-term risk to gold, and recent hawkish moves by other banks have raised doubts.
Currently, gold is following a sideways trend with a wide range around $1980-$1940.
But, a downward momentum is forming day by day, and the VDV pattern is becoming more evident.
If gold breaks out of $1935, it could move down to $1900, and fomo force could lead it to $1835 in the near term.
Support: 1944,4 1935,3 1912
Resistance: 1965,2 1972 1985,25
However, experts warn investors not to expect prices to exceed $2,000 due to the Fed's hawkish stance, even if it decides to pause.
The Fed's decision is the biggest short-term risk to gold, and recent hawkish moves by other banks have raised doubts.
Currently, gold is following a sideways trend with a wide range around $1980-$1940.
But, a downward momentum is forming day by day, and the VDV pattern is becoming more evident.
If gold breaks out of $1935, it could move down to $1900, and fomo force could lead it to $1835 in the near term.
Support: 1944,4 1935,3 1912
Resistance: 1965,2 1972 1985,25
Bình luận:
This week, two of the biggest central banks are scheduled to hold their meetings and the markets are eagerly waiting for them.
Bình luận:
Today, there are no significant updates on the economic front. Therefore, the market's direction will be influenced by the release of political and economic news.
