⏳ Countdown started: 6 and a half hours left until the opening of the gold market (XAUUSD)!
As global markets approach opening their doors, gold is preparing to begin a new round of movements after a thrilling weekly close at levels of $4,424.90, delivering impressive weekly gains. Here’s the technical and fundamental roundup that sets the stage for tonight’s opening:
🚨 Weekly recap: Taming the Federal and gold’s resilience
1️⃣ Interest-rate shock: The Federal Reserve (FOMC) surprised markets by raising the interest rate by 25 basis points, bringing it to the range (3.75% - 4.00%), accompanied by a clearly hawkish tone from Fed Chair Jerome Powell regarding the continued persistence of inflation.
2️⃣ The sharp drop, then the legendary rebound: Gold initially fell after the decision, testing lows around $4,252. But the sharp decline in oil prices and falling bond yields restored shine to the precious metal as a safe haven, driving it into a fierce upward rally—breaking above the $4,400 levels and recording a weekly high at $4,439.80.
🔍 The technical map for the open (15-minute timeframe):
• Bullish structure (ChoCh): The price succeeded in changing the structure toward the bullish direction on the intraday timeframes.
• Price Gaps (FVG): The price stabilized at close near $4,380.77, with structural liquidity gaps below (around $4,370 and $4,360).
• The expected scenario: We may see initial choppiness with the open, as liquidity is drawn from nearby lows and gaps are filled before the main next breakout path is determined.
👇 Share your expectations with the opening bell:
Will we see an upward price gap that immediately breaks through the upper resistances, or a correction to fill the gaps before the rise?
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