Buying power is weakening - resistance 2724 good for SELL
Updated
Comment: đź“Ś
The recent inflation data and comments from Fed official Waller put pressure on the US dollar, as traders grow increasingly confident that the US Central Bank might cut rates sooner rather than later. Waller did not dismiss the possibility of a rate cut at the March meeting, highlighting that inflation "is approaching our 2% target."
Chicago Fed President Austan Goolsbee, a voting member in 2025, expressed optimism that the labor market is stabilizing, as reported by The Wall Street Journal.
Market participants are now pricing in nearly equal odds of the Fed implementing two rate cuts by the end of 2025, with the first reduction expected as early as June.
XAU Trend: January 17 đź“Ś
Gold is reacting downward at the H4 2724 resistance zone, buying force is becoming weaker. Opportunity for sellers to push the price back to 2705, creating more liquidity for the market
Signal:đź“Ś
SELL XAU 2723-2726
SL: 2731 | TP: 2715 - 2708 - 2700
Thank you for reading my comment: "FM"
The recent inflation data and comments from Fed official Waller put pressure on the US dollar, as traders grow increasingly confident that the US Central Bank might cut rates sooner rather than later. Waller did not dismiss the possibility of a rate cut at the March meeting, highlighting that inflation "is approaching our 2% target."
Chicago Fed President Austan Goolsbee, a voting member in 2025, expressed optimism that the labor market is stabilizing, as reported by The Wall Street Journal.
Market participants are now pricing in nearly equal odds of the Fed implementing two rate cuts by the end of 2025, with the first reduction expected as early as June.
XAU Trend: January 17 đź“Ś
Gold is reacting downward at the H4 2724 resistance zone, buying force is becoming weaker. Opportunity for sellers to push the price back to 2705, creating more liquidity for the market
Signal:đź“Ś
SELL XAU 2723-2726
SL: 2731 | TP: 2715 - 2708 - 2700
Thank you for reading my comment: "FM"
Trade active
Gold price is sideways around the price range of 2710-2720
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