Execute range strategy before interest rate decisionGOLD / US DOLLARPYTH:XAUUSDChuck_WilsonDaily Chart Bias: Spot gold trades below the Bollinger Bands (BB) mid-track on the daily timeframe, with the 5-day and 10-day moving averages forming a bearish dead cross that acts as near-term resistance overhead. The RSI oscillator hovers in the neutral-to-weak bearish zone, signaling a mild downside bias in the near term. Critically, the 4970-4980 support confluence zone has held firm through multiple retests, establishing robust downside defense and capping aggressive selloff potential. 4-Hour Chart Momentum: The 4-hour BB structure shows persistent contraction/consolidation, while MACD bearish histogram momentum is tapering off sharply. Meanwhile, the KDJ indicator has flipped bullish from oversold territory, indicating fading bearish selling pressure and a looming technical rebound correction. Key Levels & Range Definition: The core intraday consolidation band is locked at 4980-5030 USD/oz. The 5000 USD mark serves as both a psychological barrier and a pivotal sentiment level for bulls and bears; a decisive close above this level opens a test of the 5030 resistance zone, while a breakdown would trigger a retest of the 4970 hard support. Macro & Trading Strategy: Ahead of the Fed rate decision, gold is poised to trade within the 4960-5030 range-bound corridor during the London-New York session, with no breakout catalyst in sight. Adopt a range-trading approach (sell rallies, buy dips) with strict risk parameters to mitigate volatility. We welcome all traders to share their opinions, and let's move forward together in this market. XAUUSD XAUUSD XAUUSD