XAUUSD: Go long at low position

✅Today, gold faces a pivotal moment as the final Federal Reserve interest rate decision of 2024 is set to be announced. The market overwhelmingly expects a 25-basis-point rate cut, which is essentially seen as a certainty. This decision is considered bullish for gold, further supported by ongoing geopolitical tensions, suggesting that gold's upward trend is likely to persist in the medium to long term.

✅On the daily chart, gold has reached a critical support level around 2630, a level that has repeatedly been emphasized as a key area to initiate long positions. Today is no exception. The recent candlestick patterns, including a lower shadow, confirm the strength of this support level and indicate that downside momentum remains limited.

✅The strategy for today remains focused on buying near 2630, with upside targets set above 2660. Specifically:

🔰Entry: Long positions around 2633.
🔰Target: 2650-2660
🔰Stop-loss: Below 2630 to manage risk.

✅The prevailing theme remains bullish, with strong technical and fundamental factors favoring continued upside for gold.