Technical analysis by Trading_Grorge about Symbol PAXG: Buy recommendation (5/6/2025)

The Federal Reserve will announce the May FOMC interest rate decision and hold a press conference tomorrow.The market generally expects the interest rate to remain unchanged, but Powell's speech will be crucial. 👉👉👉The non - farm payrolls data in April was unexpectedly strong (with 177,000 new jobs added). Coupled with the Federal Reserve's concerns about inflation, Powell is likely to continue his hawkish stance and emphasize "inflation - fighting first". If he signals a delay in the timing of interest rate cuts, it may suppress the bullish sentiment in gold. Conversely, if he implies concerns about economic slowdown, gold may gain support.Gold has recently broken through the key resistance of $3,330 and firmly stood above the $3,400 level. The daily chart shows a clear upward channel. Gold trading advice: Go long in the range of $3,380 - $3,390 on a pullback, with a stop - loss at $3,360 and a target of $3,430.XAUUSD trading strategybuy @ 3380-3390sl 3270tp 3420-3430If you approve of my analysis, you can give it a thumbs-up as support. If you have different opinions, you can leave your thoughts in the comments.Thank you!👉👉👉