Next Possible Gold (XAUUSD) Movement 28-JAN.

Fundamental effect on gold :

• Gold Price Movement:
o Gold remained steady around $2,730 per ounce on Tuesday, following a recent decline.
o Traders are anticipating the Federal Reserve’s two-day policy meeting starting later today.

• Federal Reserve Expectations:
o The Fed is expected to leave interest rates unchanged.
o Market focus will be on Fed Chair Jerome Powell’s speech for guidance on future policy.
o Attention also on the Fed's response to President Trump’s calls for interest rate cuts.

• Impact of Inflation and Policy:
o Trump’s inflationary policies could lead the Fed to maintain higher rates.
o Higher rates may reduce gold’s appeal as an inflation hedge.

• U.S. Dollar Influence:
o A stronger U.S. dollar added additional pressure on gold prices.
o Dollar strength was driven by market reactions to Trump’s latest tariff threats

Key Observations

1. Chart Patterns: The Head and Shoulders pattern (third chart) signals a potential bearish reversal. The neckline has been broken, which could indicate further downside. The price has pulled back to retest the neckline area at 2748–2753, aligning with the Golden Fibonacci level (0.618). A confirmation is needed through candlestick patterns for the next move.

2. Fibonacci Retracement Levels (first chart):
The retracement levels plotted suggest:
 0.382 level at 2746.67
 0.5 level at 2751.61
 0.618 level at 2755.83
 These are key areas to watch for price rejection or continuation.



3. Trendline and Channel (second chart):
o The price has broken out of the ascending channel, confirming a bearish bias.
o The POI (Point of Interest) level around 2730 aligns with key support.

4. Dynamic Support:
o The 200-period Moving Average acts as dynamic support around 2733.

Support Zones:
1. 2733–2735:
o Near the 200-MA and aligns with previous consolidation. Likely to act as immediate support.
2. 2730–2720:
o A strong support zone reinforced by Fibonacci extension levels and day support.
3. 2704–2700:
o The next major support level if the bearish move continues. Watch for a potential reversal or price reaction here.

Resistance Zones:
1. 2748–2753: Retest zone of the neckline and Fibonacci 0.618 level. Price may face selling pressure here.
2. 2755–2760: Fibonacci cluster and prior resistance zone.
3. 2770–2780: Top of the previous range and the upper boundary of the broken ascending channel.

Actionable Insights:
• Bullish Scenario:
• If the price breaks above 2753 with strong candlestick confirmation, it may target 2760–2770.
• Bearish Scenario:
• A rejection at 2748–2753 or failure to hold 2730 could push the price toward 2700.
• Neutral Strategy:
• Wait for confirmation at the neckline retest zone (2748–2753) to determine direction.
• Monitor candlestick formations, such as engulfing or pin bars, near support and resistance levels.

Summary:
• Support: 2733–2735, 2730–2720, 2704–2700
• Resistance: 2748–2753, 2755–2760, 2770–2780
• The bearish trend remains intact unless the price reclaims 2753 convincingly. For now, focus on the retest zone and confirm the trend direction before entering a trade.

Stay tuned for updates once the confirmations are in place!

Please support me with your likes and comments to motivate me to share more
analysis with you and share your opinion about the possible trend of this chart
with me !

Best Regards , Silver Wolf Traders Community

Disclaimer: This is for educational purposes only. Always trade responsibly and
manage your risk effectively