Federal Reserve maintains interest rates and growth forecasts

The Federal Reserve's recent meeting brought no surprises. The central bank kept interest rates steady and adjusted its forecasts for economic growth and inflation. Fed Chair Jerome Powell stated that while there is uncertainty regarding policies and inflation, the economy is strong enough to wait for more information. In terms of gold trading, the price has stabilized around the 3050 mark. For buyers, the best risk-to-reward opportunities may be near the 2955 level, where they can find support lined up with a trendline. Sellers will be watching for any price drop below this trendline, aiming for a target around 2832. On a four-hour chart, gold shows minor support at 3020, which aligns with a head and shoulders pattern. Buyers might capitalize on this support to push prices higher. Conversely, if sellers see a break downward, they may target the 2955 level. Lastly, looking at the one-hour chart reveals a counter-trendline indicating a potential upward breakout. If this happens, buyers could increase their activity, while sellers will be monitoring the counter-trendline for possible declines toward 2955.