📊 Product: XAU/USD 📈 Prediction: Increase Fundamental Analysis: Gold prices advanced on Thursday after the Federal Reserve (Fed) embarked on an easing cycle with a 50-basis-point (bps) rate cut. Traders ignored the rise of US Treasury yields, which correlate inversely to the non-yielding metal, which remains on its way toward reclaiming $2,600. At the time of writing, XAU/USD trades at $2,589, up over 1%. Following the Fed's decision, bullion prices extended their gains after registering losses on Wednesday. Officials side with the larger of two cuts expected by Wall Street, justifying their decision by pointing to inflation moving sustainably toward the Fed’s 2% goal. Fed Chair Jerome Powell stressed that the Fed could maintain labor strength with policy adjustments. Technical Analysis: Gold price uptrend remains intact, but after Wednesday’s Shooting Star candlestick pattern, buyers must challenge the year-to-date peak of $2,599 if they would like to stay hopeful of conquering the $2,600 mark. Momentum favors buyers. The Relative Strength Index (RSI) aims upwards in bullish territory and not in overbought territory. Therefore, the path of least resistance is tilted to the upside. XAU/USD's first resistance would be $2,599, followed by $2,600. On further strength, buyers can challenge the psychological levels of $2,650 and $2,700. If XAU/USD drops below the September 13 low of $2,556, the next support would be $2,550. Once cleared, the next stop would be the August 20 high, which turned into support at $2,531, before aiming toward the September 6 low of $2,485. Link Register https://41p9t7wkj.plusma.one #KVB #tradingindonesia #tradinggermany #trader #tradergold #germany #IB #Businessmanager #Relationship #Relationshipmanager #indonesia #vietnam #Signal #COPYTRADE #XM #Exness #mytradingstory #forexmarket #FOLLOWMEGuideBook #OPINIONLEADER #tradingvietnam #trader #tradingview