XAUUSD : Gold adjusted down after the US CPI report
Updated
World gold prices are currently recovering after a decline as the US CPI reported data was stronger than expected and the unemployment benefit claims data missed estimates, which could delay the Fed's decision to cut interest rates. in the current period and will affect precious metals. After falling to $2,014, gold is now recovering to $2,034.
The market will soon receive the release of US PPI data along with a speech by Minneapolis Fed President Neel Kashkar.
Although gold prices have continued to decline, the downward momentum has gradually weakened, enough to create a bullish candle on the daily chart. Currently, precious metals are still supported by expectations of Fed interest rate cuts and the weakening of US government bond yields. Along with that is the appeal of a safe haven asset when geopolitical instability is escalating.
The market will soon receive the release of US PPI data along with a speech by Minneapolis Fed President Neel Kashkar.
Although gold prices have continued to decline, the downward momentum has gradually weakened, enough to create a bullish candle on the daily chart. Currently, precious metals are still supported by expectations of Fed interest rate cuts and the weakening of US government bond yields. Along with that is the appeal of a safe haven asset when geopolitical instability is escalating.
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🔝 XAUUSD : Trading plan January 12, 2024🪙 We have 2 levels to have a good entry for the BUY signal :
💲 Entry 1 Buy Scalping : 2029$ - 2031$
💵TP1 : 2035
💵TP2 : 2039
🔴 SL : 2020
💲Entry 2 Buy Limit : 2023$ - 2025$
💵TP1 : 2029
💵TP2 : 2035
🔴 SL : 2017
🪙 We have 2 levels to have a good entry for the SELL signal :
💲Entry 1 Sell (Scalping) : 2035$ - 2037$
💵TP1 : 2030
💵TP2 : 2025
🔴 SL : 2045
💲Entry 2 Sell Limit : 2041$ - 2043$
💵TP1 : 2035
💵TP2 : 2030
🔴 SL : 2049
⚡️⚡️⚡️ Note: For transactions, please leave full TP and SL to ensure safety and bring profit from the market. ‼️
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