🔔🔔🔔Gold news:
👉A cautious atmosphere dominates ahead of the release of US consumer inflation data, keeping Gold prices fluctuating within a tight range. The US Dollar (USD) sees a slight rebound as traders take profits after its recent decline.
👉The renewed strength in the USD and rising US Treasury bond yields are limiting Gold's recovery. However, if the annual headline and core CPI figures come in weaker than expected, it could strengthen expectations of Federal Reserve interest rate cuts this year. In that case, the USD and bond yields may come under pressure, providing a boost to Gold, which does not offer interest.
👉Conversely, if inflation data exceeds market expectations, Gold could give up its recent gains and decline further. Strong CPI numbers would support the Fed's cautious stance on inflation and rate cuts, potentially weighing on Gold prices due to its lack of yield appeal.
Personal opinion:
👉Gold is waiting for CPI news so it will run sideways in the 2,900 - 2,930 range
👉The Bullish Pennant pattern is gradually appearing, signaling a gold rally
👉At the same time, the SMA in this area is a strong support zone for gold prices, so it is difficult to break down
Analysis:
👉Based on resistance - support levels and SMA combined with price action to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 2,909 - 2,911 (European session)
❌SL: 2,904 | ✅TP: 2,915 - 2,920 - 2,930
👉Sell Gold 2,928 - 2,930 (European session)
❌SL: 2,934 | ✅TP: 2,925 – 2,920 – 2,910
👉Buy Gold 2,900 – 2,902
❌SL: 2,895 | ✅TP: 2,906 – 2,912 – 2,920
FM wishes you a successful trading day 💰💰💰
👉A cautious atmosphere dominates ahead of the release of US consumer inflation data, keeping Gold prices fluctuating within a tight range. The US Dollar (USD) sees a slight rebound as traders take profits after its recent decline.
👉The renewed strength in the USD and rising US Treasury bond yields are limiting Gold's recovery. However, if the annual headline and core CPI figures come in weaker than expected, it could strengthen expectations of Federal Reserve interest rate cuts this year. In that case, the USD and bond yields may come under pressure, providing a boost to Gold, which does not offer interest.
👉Conversely, if inflation data exceeds market expectations, Gold could give up its recent gains and decline further. Strong CPI numbers would support the Fed's cautious stance on inflation and rate cuts, potentially weighing on Gold prices due to its lack of yield appeal.
Personal opinion:
👉Gold is waiting for CPI news so it will run sideways in the 2,900 - 2,930 range
👉The Bullish Pennant pattern is gradually appearing, signaling a gold rally
👉At the same time, the SMA in this area is a strong support zone for gold prices, so it is difficult to break down
Analysis:
👉Based on resistance - support levels and SMA combined with price action to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 2,909 - 2,911 (European session)
❌SL: 2,904 | ✅TP: 2,915 - 2,920 - 2,930
👉Sell Gold 2,928 - 2,930 (European session)
❌SL: 2,934 | ✅TP: 2,925 – 2,920 – 2,910
👉Buy Gold 2,900 – 2,902
❌SL: 2,895 | ✅TP: 2,906 – 2,912 – 2,920
FM wishes you a successful trading day 💰💰💰
Note
HIt + 55 pisp from 2909congratulations💰💰💰
Note
TP1 2915 . DoneHit + 60 pips from 2909
Trade active
TP1:2915. DoneTP2: 2920 Done
Hit max +160 pips from 2909
Congratulations on your big profit!
Trade closed: target reached
Hit + 50 pips from Sell 2928Successful plan
Note
achieve the original goal
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.