GOLD AWAITS FED DECISION – WILL $3,050 BE THE NEXT TARGET?📌 Market Outlook
Gold is holding steady above the $3,000 level as investors remain cautious ahead of the March 19 FOMC meeting. The Federal Reserve is expected to keep interest rates unchanged, with increasing speculation about a potential rate cut in June.
Despite last week’s price surge, gold’s short-term direction hinges on how the Fed’s economic outlook unfolds. If policymakers signal a dovish stance, we could see new highs beyond $3,050. However, any signs of persistent inflation may trigger a short-term pullback.
📊 Key Technical Analysis
🔹 Support Levels (Buy Zones)
$3,000 – The psychological level where buyers are active.
$2,985 - $2,975 – Strong liquidity zone, likely to provide support.
$2,945 - $2,950 – If tested, this could be a major reaccumulation area.
🔺 Resistance Levels (Breakout Targets)
$3,034 - $3,050 – Key resistance, breaking above could open the door for further upside.
Above $3,050, momentum could accelerate toward $3,080 - $3,100.
🎯 Trading Strategy for Today
🟢 BUY ZONE: 2986 - 2984
📍 SL: 2980
🎯 TP: 2990 - 2994 - 3000 - 3005 - 3010
🔴 SELL ZONE: 3033 - 3035
📍 SL: 3039
🎯 TP: 3028 - 3024 - 3020 - 3015 - 3010
⚠ Market Sentiment & Risk Management
Gold is currently trading in an ascending channel with high volatility expected before the Fed’s decision.
Traders should prepare for false breakouts and possible profit-taking moves around key levels.
Stick to strict TP/SL strategies to mitigate risks!
📢 What’s your outlook for gold? Will we break above $3,050 or see a dip first? Let’s discuss! 🚀🔥
