XAUUSD - Gold 4H 2023-06-29

Gold on the 4-hour timeframe, with the previous daily candle closing at 1907.500 and breaking below the daily support level established on Friday, June 23rd, 2023. Notably, there are several high-impact news events on the horizon that could impact the US Dollar, including a speech by Fed Chair Powell at the Fourth Conference on Financial Stability hosted by the Bank of Spain in Madrid during the pre-London session open. Additionally, during the New York session, there will be releases of Final GDP q/q, Unemployment Claims, Final GDP Price Index q/q, and Pending Home Sales m/m.

Given the upcoming news events and their potential impact on the market, it would be prudent to allow the price to develop a clear structure, such as a 4-hour candle closure, and carefully assess the released data before considering any trading positions.