Gold: focus on FOMC interest rate resolution

Basic analysis:

On Tuesday (July 27), on the eve of the Fed's interest rate decision, spot gold fluctuated in a narrow range. The Federal Reserve will hold a monetary policy meeting from 2 a.m. on Thursday to announce its interest rate decision. The market is concerned about whether the Federal Reserve will significantly raise interest rates by 100 basis points, and institutions generally believe that due to the decline in long-term inflation expectations, the Federal Reserve will probably raise interest rates by 75 basis points this week to reduce the impact on the economy and other factors

Spot gold xauusd 4 hour chart

Technical analysis:

after rebounding above 1720, the gold price rose to the previous high near 1736 and fell back again. The saw saw saw battle was launched near 1720. At the same time, MACD continued to shrink near the zero axis, and the wide-ranging fluctuation trend was obvious. Within the day, it continues to be bullish above 1713, with the upper target of 1735-1750, and bearish below 1713, with the target of 1700-1680

Long short turning point: 1713.00

Resistance level: 1735.00 1750.00

Support position: 1700.00 1680.00

Trading strategy: bearish below 1713.00, target 1700.00 1680.00

Alternative strategy: bullish above 1713.00, target 1735.00 1750.00