XAUUSD: October 28 | Gold Recovers StronglyGoldOANDA:XAUUSDStone_Haven📰 News and Market Developments On the H1 chart, Gold fell sharply from the 4,110–4,115 range to the 3,985–3,990 area before recovering quickly. The price is currently around 4,068.920, indicating that short-term buying pressure is prevailing after the strong rebound. Key factors to watch today are the Fed's interest rate decision and FOMC message. Reuters noted on October 27th that high yields and a strong USD are putting pressure on gold's outlook, although gold has recovered as oil prices have fallen. => Short-term fundamental: Currently leaning towards an upward rebound. 📊 Technical Analysis The price formed a sharp downward move, breaking the previous bullish structure (BOS), then bottomed out around 3,985–3,990. Subsequently, buying pressure pushed the price above the 4,030–4,035 range, creating a CH3CH, indicating a shift in the short-term structure from bearish to bullish. Currently, the price is consolidating around 4,060–4,070 after a rapid increase. However, the price remains below the 200-day EMA, so a full uptrend cannot yet be confirmed. The preferred scenario is to wait for a pullback to the support zone to find BUY opportunities, rather than chasing the current price. 🎯Trading Strategy 🔴 SELL Zone: 4,110–4,116 This is the old supply and resistance zone where the price previously consolidated before a sharp decline and breaking through support. If the price pulls back here but a rejection candle appears, a sell opportunity may be available. 🟢 BUY Zone: 4,035–4,030 This is the old resistance zone that has been broken and may now act as support. This area is also close to the EMA 50 and EMA 20. If this area retests, a buy signal may be considered. 🟢 BUY Zone: 3,992–3,987 This is a demand zone formed after several price reactions around the bottom, and is also near the previously declining BOS area. If the price returns to this zone and shows a rejection signal of the low price, a buy signal may be considered. ⚠️ Disclaimer: This is my personal analysis and market view based on the chart and market information available at the time of analysis. It does not guarantee a 100% successful outcome.