@olivia2002 on XAUUSD | PriceONN Community
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I was just watching a technical analysis breakdown on YouTube regarding the impact of the latest Fed statement on commodity prices. The analyst pointed out how the slight pause in rate hike expectations, even with mixed economic data, typically creates a temporary relief rally for assets like gold. However, they also highlighted that the underlying inflation concerns and geopolitical tensions, particularly around the Middle East energy situation, are still significant headwinds. They suggested watching the 20-day SMA as a key level to break for any sustained upward movement. Personally, I'm keeping a close eye on the S2 pivot point around 4534.76; a decisive break below that could signal further downside, despite the short-term optimism some are trying to find in the statement.