Gold Analysis on September 19th

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Gold Analysis on September 19thGold / U.S. DollarFOREXCOM:XAUUSDFibonacci_Gold Gold experienced a period of highs and lows this week. On the day of the Fed's decision, the price fluctuated between 3650 and 3707, closing with a medium-sized negative candlestick on the daily chart. The following day, the price converged, trading between 3633 and 3672, with another small negative candlestick on the daily chart, marking the first two consecutive negative candlesticks since the rally from the 3311 low. Structurally, despite consecutive negative candlestick pullbacks on the daily chart, the bullish trend remains intact, and the market is currently in a period of high-level consolidation within the trend continuation phase. Key support below is 3615, while a break above 3672 is crucial. Operationally, if the price rebounds to the 3688-3692 range, consider entering a short position with a stop-loss above 3700. Downside targets include 3672, 3660, and 3654. It should be noted that despite the short-term adjustments on the technical side, the medium-term bullish logic for gold remains solid, supported by geopolitical uncertainty and risk aversion, and the bull market is expected to continue after this round of adjustments.