Gold (XAUUSD): FED Interest Rate Decision Ahead 🟡

11 Jun 2023

On Wednesday, we are expecting a FED interest rate decision.
Gold will most likely will remain very calm until then.

On a daily time frame, the price is currently trading within a horizontal range.
Bullish news will trigger a breakout of its upper boundary.
Daily candle close above will confirm a violation.
A bullish continuation will be expected at least to 2006 level then.

Alternatively, a bearish breakout of the support of the range and a daily candle close below
will trigger a selloff. A bearish continuation will be expected to 1900.

Smart money are already accumulating their positions.
Watch the intraday price action around the release of the news for the clues.

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