📰 News and Market Developments

Gold is trading around $4,012/oz after a sharp drop from the $4,110–$4,120 range to near $3,980–$3,990. Currently, the price is recovering slightly and consolidating around $4,000–$4,020, but there is no clear signal that the downtrend has ended.

On October 27–28, the market will focus on the Fed meeting. Expectations regarding interest rates, statements from the Fed Chairman, the US dollar, and US bond yields will be key factors influencing gold.

📊 Technical Analysis

The H1 chart structure remains strongly bearish with progressively lower highs and lows. The price is currently around $4,012, fluctuating near the EMA20 but still below the EMA50, EMA100, and EMA200. This indicates that the current rebound is not yet sufficient to confirm a reversal; The priority remains waiting for the price to retrace to resistance before selling. The 3,980–3,990 zone is near support, while a breakout above the EMA50 will be a signal to watch to assess the strength of the recovery.

🎯Trading Strategy
🔴 SELL zone: 4,043–4,050
This is the near resistance zone, coinciding with the EMA100 and the area the price broke through in the previous downtrend. If the price retraces but is rejected, consider selling towards 4,022 and then 4,000.

🔴 SELL zone: 4,106–4,113
This is a crucial supply zone, where the price previously accumulated before a sharp breakdown. This zone is also above the EMA200, so if the price retraces deeply to this level, sellers may continue to dominate.

🟢 BUY zone: 3,980–3,989
This is the area where demand has triggered a rebound in recent sessions, and it is also near the short-term bottom. If the price returns to this zone and a clear bullish reversal candlestick appears, consider buying.

⚠️ The stop loss for the above price zones will be 50-70 pips. Please consider your safety margin when placing orders. Good luck.