XAUUSD H1 Bearish Bias: Sell Rallies Below $4,300–$4,315, with $4,288 Support in Focus Ahead of FOMC
(XAUUSD) The 1-hour chart currently shows a clear bearish trend and a consolidation phase at low levels. After a series of consecutive declines, the gold price has stabilized near $4,288.54 and is attempting to form a short-term support shelf; however, the overall rebound momentum is facing strong resistance from multiple moving averages above and the middle band of the Bollinger Bands.
As this week coincides with the highly anticipated September Federal Reserve interest rate decision (FOMC), market expectations for a Fed rate hike have surged significantly to over 85%. The macroeconomic environment poses a bearish risk to gold, a non-interest-bearing asset, in the medium term. Therefore, the trading strategy must follow the trend, focusing primarily on selling on rallies, while supplementing this with light-position test buys at key support levels.
Keep a close eye on the 4,300 psychological threshold: If the price manages to forcefully reclaim the 4,300–4,315 zone on heavy volume during the session, it would indicate that short-term bears are taking profits, and short positions should be wary of the risk of a rally to 4,350. Continue to focus on sell positions in your trading! $XAU/USD(XAUUSD.FOREX)$$Gold - main 2612(GCmain)$
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