Data is about to be released. Will it affect the trend of gold?

Information summary:

The Federal Reserve is about to announce the latest interest rate decision, and the market generally expects it to maintain the policy interest rate range of 4.25%-4.50% unchanged. Trump recently asked the Federal Reserve to cut interest rates by one percentage point immediately. However, the market reacted cautiously to this, believing that a sharp interest rate cut may increase inflation risks, especially in the context of Middle East conflicts pushing up oil prices.

Fed Chairman Powell's statement at the press conference will become the focus of market attention. The market expects the Fed to maintain a "cautious and patient" tone, and the guidance on the interest rate outlook may be vague.

Market analysis:

Technical indicators, from the daily chart, the support level is near the 10-day moving average and the 20-day moving average, and the 3365-3345 range forms an important support. In terms of resistance, yesterday's high near 3405 constitutes a key resistance above. If the price wants to reverse the current weak pattern, it needs to break through this resistance level strongly to open up the upward space.

From the 1-hour chart, the price started to fall after reaching a high point, and maintained stability in the upper and lower ranges; it is now close to the low point in the early trading, and the trend is relatively slow.

In the absence of an upward or downward breakthrough, we still follow the strategy of selling high and buying low.

Short around 3400, stop loss 3410, profit range 3380-3365;

Long around 3365 when the price falls back, stop loss 3355, profit range 3380-3400.