Gold consolidating in a range(before feds decision)

### **Gold Spot (XAU/USD) 4H Chart Forecast**

#### **Key Levels:**
- **Resistance:** Around **3,120 - 3,160** USD (Upper boundary of the trend channel)
- **Support Zones:**
- **3,011 - 2,961** USD (First support)
- **2,930 - 2,911** USD (Stronger support)
- **2,880 USD** (Major downside target)

#### **Technical Outlook:**
- The price is currently trading near **3,037** USD, respecting an **ascending channel**.
- **Potential Bullish Scenario:** If gold remains above **3,011 USD** support and breaks past **3,080 USD**, it could test the **3,120 - 3,160 USD** resistance.
- **Potential Bearish Scenario:** If gold breaks below **3,011 USD**, a **drop to 2,961 USD** is likely, followed by **2,930 - 2,911 USD** if selling pressure continues.

#### **Trading Strategy:**
- **Buy on dips** near **3,011 - 2,961** with a target of **3,120 USD**.
- **Sell below 3,011 USD**, targeting **2,930 - 2,911 USD**.
- Watch for a potential breakout above **3,120 USD** for further upside.