XAU/USD (a 4-hour chart)
Gold continues to trade within a medium-term channel $1335- $1358.
Today gold market consolidate at the level of the balance price of this range at $1344. Trading activity during the day is reduced, for some time gold will stay consolidated within this range.
We note that the chance for downward consolidation breakout increased. (support at $1,335). However the likehood of the Fed rate hike can dramatically change the balance of power in this market.