Gold Technical Outlook: XAU/USD Bulls Regroup at a Critical Pivot Ahead of Fed
Gold is attempting to stabilize near a pivotal technical zone, with the Fed decision poised to provide the catalyst for the next major move.
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Gold Technical Outlook: XAU/USD Multi-Timeframe Analysis
Gold heads into the Federal Reserve decision with the rate move already priced near 93%, leaving the dot plot to set the direction. Michael Boutros, StoneX Media Senior Market Analyst, walks through gold on the weekly, daily and four hour charts and the scenarios the Federal Reserve projections could produce. Gold has declined nearly 9.4% from its August high and has spent three consecutive weeks straddling the same yearly reference level. The dot plot and the updated Summary of Economic Projections carry the reaction, since the rate move is close to fully priced. Treasury yields, especially the front end of the curve, and the U.S. dollar are how those projections reach precious metals.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- Australian Dollar Short-term Outlook: AUD/USD Reversal Tests Key Uptrend Support
- Gold Price Short-term Outlook: XAU/USD Bulls Fight to Stabilize at Pivotal Support
- Japanese Yen Short-term Outlook: USD/JPY Breakdown Faces Major Test Ahead of Fed, BoJ
- US Dollar Short-term Outlook: USD Selloff Accelerates Toward August Lows Ahead of NFP
- Swiss Franc Short-term Outlook: USD/CHF Breakout Puts Yearly Highs Back in Play
- Euro Short-term Outlook: EUR/USD Pullback Nears Pivotal Uptrend Support
- British Pound Short-term Outlook: GBP/USD Bulls Confront Resistance at Three-Month Highs
Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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