GOLD (XAUUSD): Potential Scenarios Ahead of CPI
Ahead of US CPI data, Gold is stuck on a key daily resistance
based on the current All Time High.
Depending on the reaction of the price to the news, I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above the resistance of the range on a daily,
a bullish continuation will be anticipated at least to 2550 level.
Bearish Scenario
The price has retraced from the underlined blue daily resistance
and is currently testing an intraday horizontal support.
If the market breaks and closes below that on a 4H, we can anticipate
a bearish continuation at least to 2508.
Patiently wait for the release of the news and then follow the market.
❤️Please, support my work with like, thank you!❤️
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
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.