CPI forecast with mixed opinions
Updated
Recently, central banks have been instrumental in supporting the value of gold. Their interest in purchasing precious metals has reached new heights, playing a major role in stabilizing gold prices.
Despite this, the US Federal Reserve continues to hold a significant position in the gold market, and many anticipate an increase in gold prices once the current monetary tightening cycle comes to a close.
Gold is currently selling at $196.20, which is the 23.6% Fibonacci retracement level of its most recent daily drop.
This indicates a potential downside risk and suggests that the lows of $1932.00 may be tested monthly in May.
The daily chart reveals that gold is positioned below the bearish 34 and 89 EMAs, with its slope extending below the aforementioned Fibonacci level.
Despite this, the US Federal Reserve continues to hold a significant position in the gold market, and many anticipate an increase in gold prices once the current monetary tightening cycle comes to a close.
Gold is currently selling at $196.20, which is the 23.6% Fibonacci retracement level of its most recent daily drop.
This indicates a potential downside risk and suggests that the lows of $1932.00 may be tested monthly in May.
The daily chart reveals that gold is positioned below the bearish 34 and 89 EMAs, with its slope extending below the aforementioned Fibonacci level.
Note
Gold traded above the 1954 zone and went to 1962 as expectedNote
CPI currently, the expected data is lower than the previous period.DXY is under pressure from expected data before the release time.
Note
1954 -> 1970$. CPI bigwinNote
gold back to 1940 and match BUY strategy here. Gold is currently at the price of 1946
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