The gold market continues to move sideways. XAUUSD formed a range zone, the price is basically squeezed. I think the market may stay in the range zone before major news comes out. On the daily timeframe, price action formed a double-long tailed bar, rejecting the support level. Overall, I expect a choppy market because of the upcoming news. Alternativly, the market may fall below the relatively equal lows and then move upwards. My goal is the previous resistance zone around 2163.570
📊QUICK FUNDAMENTAL LOOK
Gold held steady around $2,160 an ounce on Wednesday, remaining in a tight sideways trading range as investors braced for the latest Federal Reserve policy decision. The central bank is widely expected to maintain interest rates at their current levels, while traders scaled back bets on a June cut amid strong US inflation data.
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