Market Analysis with Macha Iced Tea 🍸 📈 Product: XAU/USD 📊 Prediction: Increase Fundamental Analysis: Gold prices gained significant traction on Wednesday after the Federal Reserve hinted at the possibility of reducing borrowing costs as early as September. The drop in US Treasury yields and the weakening of the US dollar, which fell to its lowest level since July 18, further boosted the appeal of the non-yielding yellow metal. Investors are closely watching the Fed's monetary policy decision later in the day. Geopolitical tensions in the Middle East, with fears of an escalation between Israel and Iran, also contributed to gold's rise as investors sought safe-haven assets. The decline in the US dollar and yields provided additional support to the gold price. Technical Analysis: Gold prices are trading within a slightly rising channel on the daily timeframe, but have generally been ranging sideways for over three months. The 50-day Exponential Moving Average (EMA) near $2,366 continues to provide support to the gold bulls. The 14-day EMA oscillates in the 40.00-60.00 range, indicating indecision among market participants. A breakout above the all-time high of $2,483.75 would send gold into uncharted territory and signal fresh upside momentum. On the downside, support is seen near the upward-sloping trendline around $2,225, which is plotted from the October 6 low near $1,810.50. The overall technical picture suggests a consolidation phase for gold in the near term. Register Now! https://mykvb.com/register?vco... #KVB #tradingindonesia #Businessmanager #Relationship #Relationshipmanager #indonesia #vietnam #Signal #COPYTRADE #XM #Exness #mytradingstory #forexmarket #FOLLOWMEGuideBook #OPINIONLEADER #tradingvietnam #trader #tradingview