XAUUSD : The entire market is focused on the US inflation report
Updated
Gold increased slightly thanks to DXY's decline after a few recovery sessions. The market held its breath waiting for the US inflation report at the end of the day.
During the January 10 session, world gold prices decreased slightly and stabilized as investors waited for the US inflation report. DXY's slight decline after a few recovery sessions could help gold rise again today. Gold is still a popular asset in the context of high world inflation and Middle East geopolitical tensions. Gold is currently recovering to $2,028 after falling to $2,024 yesterday.
On frame D1, the 100-day MA increased above the 200-day MA last Friday, confirming the uptrend of gold. However, the RSI is currently flat and close to 50, showing that the upward momentum is weakening. If the recovery consolidates, immediate resistance to watch will be the 21-day MA at $2,045, followed by Friday's session high at $2,054 and the $2,100 mark.
On the contrary, sellers may look towards the $2,015 area, with the 50-day MA and Monday's session bottom. A successful test of this support could extend the downward momentum towards the $2,000 mark.
During the January 10 session, world gold prices decreased slightly and stabilized as investors waited for the US inflation report. DXY's slight decline after a few recovery sessions could help gold rise again today. Gold is still a popular asset in the context of high world inflation and Middle East geopolitical tensions. Gold is currently recovering to $2,028 after falling to $2,024 yesterday.
On frame D1, the 100-day MA increased above the 200-day MA last Friday, confirming the uptrend of gold. However, the RSI is currently flat and close to 50, showing that the upward momentum is weakening. If the recovery consolidates, immediate resistance to watch will be the 21-day MA at $2,045, followed by Friday's session high at $2,054 and the $2,100 mark.
On the contrary, sellers may look towards the $2,015 area, with the 50-day MA and Monday's session bottom. A successful test of this support could extend the downward momentum towards the $2,000 mark.
Note
🔝 XAUUSD : Trading plan January 11, 2024🪙 We have 2 levels to have a good entry for the BUY signal :
💲 Entry 1 Buy Scalping : 2029$ - 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) : 2039$ - 2041$
💵TP1 : 2035
💵TP2 : 2031
🔴 SL : 2050
💲Entry 2 Sell Limit : 2043$ - 2045$
💵TP1 : 2039
💵TP2 : 2035
🔴 SL : 2054
⚡️⚡️⚡️Note: For transactions, please leave full TP and SL to ensure safety and bring profit from the market. ‼️
🔔 Admin : @Eva_trade811
Trade active
Entry 1 Buy - running 20pipsTrade active
Entry 1 Buy - Hit TP1 50 pips - move SL to EntryNote
True to the predicted trend, gold touched the 2043-2045 zone and then dropped sharply to 2013. If anyone places a Sell order from 2041 - 2045, they will have a profit of 300 pips.
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