Upward rally in Gold continues unabated ahead of Fed's monetary policy.

Driven by fear sentiments, Gold racked up another record high of $3045 in the early session on Wednesday. Recently, Israel launched surprise airstrikes across the Gaza strip killing over 400 Palestinians. Demand for this safe haven asset heightens during geopolitical turmoil. Moreover, traders speculate on Federal Reserve's monetary policy due for later today as they bet on a rate cut for the month of June. Market is pricing in an easier policy which will be implemented sooner or later as per Fed's projection of two rate cuts this year. This expectation is perhaps fueling a bull run in Gold prices. 
Dollar index sits near its six month low as weakness still persists in it. Softening dollar hints there could be more room for new highs in Gold. The yellow metal trades at its peak of  $3044 at the time of writing. RSI on the 4H chart suggests prices have entered into overbought territory however the primary trend is still extremely bullish. Traders should be careful as FOMC decision could trigger a sharp movement on the either side. 

Gold Structure: Strong Bullish Candle on Daily,Flag on 4hr, Consolidation on 15 Mins.

Intraday Strategy/ Intraday Trend: Buy on Supports, Buy on Breakouts/ Bullish

Weekly Trend: Extreme Bullish

Major Resistance: 3039, 3052, Undefined

Major Support: 3032, 3025, 3018