On Wednesday, we are expecting a FED interest rate decision. Gold will most likely will remain very calm until then.
On a daily time frame, the price is currently trading within a horizontal range. Bullish news will trigger a breakout of its upper boundary. Daily candle close above will confirm a violation. A bullish continuation will be expected at least to 2006 level then.
Alternatively, a bearish breakout of the support of the range and a daily candle close below will trigger a selloff. A bearish continuation will be expected to 1900.
Smart money are already accumulating their positions. Watch the intraday price action around the release of the news for the clues.
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