move slowly and wait for FOMC meeting minutes

🔔🔔🔔Gold news:

➡️ Spot gold prices fell on Tuesday, dropping below the $3,300 mark during European trading hours and remaining weak after Wall Street opened, as upbeat U.S. economic data strengthens the U.S. dollar.

➡️ However, gold attracted dip buyers and retested the $3,300 level early Wednesday. The overnight rebound in the dollar lost momentum amid concerns over U.S. Fiscal stability and growing bets on Federal Reserve rate cuts, which in turn supports the non-yielding precious metal.

➡️ Additionally, geopolitical tensions between Russia and Ukraine boosted demand for gold as a safe-haven asset.

Personal opinion:
➡️ There has been no strong news that has really had a strong impact on gold prices this week. So in the beginning of today, gold price is still moving slowly and waiting for the FOMC meeting minutes to have the next direction

➡️ Analysis based on important support resistance levels and Fibonacci combined with EMA to come up with a suitable strategy

Personal Plan:
🔆Price Zone Setup:

👉Sell Gold 3310 - 3313
❌SL: 3317 | ✅TP: 3306 - 3301 – 3295

👉Buy Gold 3253 - 3256
❌SL: 3249 | ✅TP: 3260 - 3265 – 3270

FM wishes you a successful trading day 💰💰💰

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