Gold News:
🔆All eyes are on the US CPI report and Fed Chair Jerome Powell’s speech to Congress this week
🔆Last week’s jobs report showed continued signs of recovery in the labor market. A surprisingly lower unemployment rate, higher wages and an upward revision to December employment suggest the US labor market is closing out 2024 on solid footing.
🔆Recent data suggest the labor market has regained momentum. This suggests that risks have eased, so the Federal Open Market Committee (FOMC) will likely wait to see how first-quarter inflation data and economic policy play out before making further moves on the federal funds rate
🔆The CPI report due on February 12 is also important news as it is the Fed's preferred measure of inflation to adjust interest rates accordingly
Personal opinion:
🔆Fed Chairman Powell will likely act in a hawkish manner and not rush to cut interest rates while waiting to see if President Trump's tariff policies cause inflation to spike.
🔆However, the priority should be to assess the potential risks of tariffs on inflation and then monetary policy.
Technical analysis:
🔆Based on Fibonacci combined with Resistance - Support Zones and Trend Lines
Plan:
🔆Price Zone Setup:
👉Buy Gold 2888 -2886
❌SL: 2881 | ✅TP: 2892 - 2900 – 2910
👉Sell Gold 2955 -2957
❌SL: 2964 | ✅TP: 2950 - 2945 – 2935
Thank you for reading my comment: "FM"
🔆All eyes are on the US CPI report and Fed Chair Jerome Powell’s speech to Congress this week
🔆Last week’s jobs report showed continued signs of recovery in the labor market. A surprisingly lower unemployment rate, higher wages and an upward revision to December employment suggest the US labor market is closing out 2024 on solid footing.
🔆Recent data suggest the labor market has regained momentum. This suggests that risks have eased, so the Federal Open Market Committee (FOMC) will likely wait to see how first-quarter inflation data and economic policy play out before making further moves on the federal funds rate
🔆The CPI report due on February 12 is also important news as it is the Fed's preferred measure of inflation to adjust interest rates accordingly
Personal opinion:
🔆Fed Chairman Powell will likely act in a hawkish manner and not rush to cut interest rates while waiting to see if President Trump's tariff policies cause inflation to spike.
🔆However, the priority should be to assess the potential risks of tariffs on inflation and then monetary policy.
Technical analysis:
🔆Based on Fibonacci combined with Resistance - Support Zones and Trend Lines
Plan:
🔆Price Zone Setup:
👉Buy Gold 2888 -2886
❌SL: 2881 | ✅TP: 2892 - 2900 – 2910
👉Sell Gold 2955 -2957
❌SL: 2964 | ✅TP: 2950 - 2945 – 2935
Thank you for reading my comment: "FM"
Trade active
Hit + 40 pips from plan 2886.5 GREATTrade closed: target reached
Hit + 90 pips or maybe more. profit for everyone
âś… t.me/+Y9T5_BwC7_JhMWM1
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âś… 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.