Waiting for FOMC and the next trend of Gold

Gold news:

🔆Concerns over renewed tariffs, coupled with the absence of positive outcomes from the US-Russia peace talks excluding Ukraine on Tuesday, have weakened investor confidence, boosting demand for safe-haven assets like gold.

🔆Market participants remain apprehensive about a potential escalation in global trade tensions due to Trump's protectionist policies. Additionally, expectations of further monetary easing by the Federal Reserve continue to support the precious metal.

🔆The disappointing US Retail Sales data released on Friday, along with mixed inflation signals, indicate that the Fed might consider cutting interest rates in its September or October meeting.

🔆Consequently, investors will closely monitor the Fed's January meeting minutes for insights into the central bank’s rate trajectory and its impact on the non-y

Personal opinion:

🔆Gold will have a decline above 2900, then continue to maintain the upward momentum due to fundamental and technical factors. There will be a new ATH this week

Analysis:

🔆Based on fundamental analysis - geopolitics combined with SMA and important resistance - support zones to come up with a suitable strategy

Plan:

🔆Price Zone Setup:

Sell Gold 2974 - 2976
❌SL: 2981 | ✅TP: 2970 - 2963 – 2955

👉Buy Gold 2903-2905
❌SL: 2898 | ✅TP: 2910 - 2915– 2925

FM wishes you a successful trading day 💰💰💰