XAUUSD Potential push for 2600

Sep 18, 2024

This week, XAUUSD surged to an all-time high, driven by expectations of a potential Federal Reserve rate cut. The price jumped over 3%, marking its strongest weekly gain since August. Inflation concerns and global uncertainty have fueled speculation that the Fed may cut rates to stimulate the economy. Now, the market is in a new range between 2550 and 2600.

Next week’s key event is the Fed's decision, with high-impact news expected, especially Wednesday. The market could consolidate, forming a continuation pattern, though Monday may start with a short-term pullback due to a 1-2-3 price movement, typically signaling a correction.

Despite this potential pullback, the overall outlook remains bullish. A rate cut could drive prices toward 2600 or higher, supported by inflation concerns and economic uncertainty

Sep 19, 2024

Trade closed: target reached

Price moved exactly as expected :)