XAU short term trading strategy
The US Bureau of Labor Statistics released a positive Consumer Price Index (CPI). Accordingly, US inflation increased by 0.2% in July, as expected by economists, but year-on-year inflation increased by only 2.9%, lower than the expected 3%. Lower inflation will give the US Federal Reserve (Fed) more grounds to cut interest rates soon. The USD will fall when the Fed reverses monetary policy. Normally, gold moves inversely to the USD
Note
SELL XAU 2454
TP1: 2448
TP2: 2440
SL: 2462
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Related publications
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.