Lingrid | GOLD Post-FED Shakeup. Possible Bearish Opportunity
Updated
The price perfectly fulfilled my previous idea. It hit the TP. 
XAUUSD made a sharp decline after FED rate decision and FOMC. The price broke and closed below the lows of the past three weeks, which could lead to a fake breakout, so we should closely monitor the price action. Additionally, it broke and closed below the trendline that had supported the price for over a month. I think the market may gradually move down toward last month's low by the end of the year. With high-impact news coming today, there is potential for unexpected moves. Overall, I expect the market to bounce off the upward trendline and the resistance zone around 2640-2650, followed by another bearish move. My goal is support zone around 2570
XAUUSD made a sharp decline after FED rate decision and FOMC. The price broke and closed below the lows of the past three weeks, which could lead to a fake breakout, so we should closely monitor the price action. Additionally, it broke and closed below the trendline that had supported the price for over a month. I think the market may gradually move down toward last month's low by the end of the year. With high-impact news coming today, there is potential for unexpected moves. Overall, I expect the market to bounce off the upward trendline and the resistance zone around 2640-2650, followed by another bearish move. My goal is support zone around 2570Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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The gold market made a downward movement yesterday and is currently trading sideways after bearish impulse move. The price action is forming either a triangle pattern or a bearish flag pattern, both of which are typically considered trend continuation patterns. I think that the market will oscillate around the 2600 level, moving back and forth, before ultimately trending lower to close the week with a bearish weekly candle. Additionally, I expect the market to retest the resistance before initiating this bearish move. If resistance holds, it would be a sign of continuation of the prevailing downward trend. My goal is support zone around 2567
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