📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
Gold price continues to fluctuate around the key support 1929.00, while stochastic begins to overlap positively, to support the chances of resuming the bullish trend in the upcoming sessions, which its next main target located at 1945.20. In general, the bullish trend scenario will remain valid and active for today unless breaking 1929.00 and holding with a daily close below it. The expected trading range for today is between 1920.00 support and 1950.00 resistance.
📊QUICK FUNDAMENTAL LOOK
Gold prices fell in European trade on Wednesday, extending losses for the second day and moving away from two-week highs on active profit-taking while the dollar powers up against a basket of major rivals. Dollar's gains come ahead of the Federal Reserve's policy decisions, expected to maintain interest rates unchanged but will provide important clues on the likely policy decisions ahead.
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