GOLD: A Short-Term Trading Setup - High Risk
Since July 9, GOLD has been in an uptrend, rising to 3375 as its current high.
The market focus is solely on the Fed’s interest rate cut and when it might happen. Today we have the US CPI data in about 30 minutes. The market expects the CPI to be 2.7% vs. 2.4%.
The market is expecting a bullish data, which increases the odds that the Fed will not cut rates anytime soon and should reduce the odds of an interest rate cut at the July meeting.
From a technical perspective, the price is already facing a strong zone and the chances of a decline are high. However, this trade carries a higher than normal risk, as we can never know how the market may interpret inflation data and its impact on future interest rate cuts.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Since July 9, GOLD has been in an uptrend, rising to 3375 as its current high.
The market focus is solely on the Fed’s interest rate cut and when it might happen. Today we have the US CPI data in about 30 minutes. The market expects the CPI to be 2.7% vs. 2.4%.
The market is expecting a bullish data, which increases the odds that the Fed will not cut rates anytime soon and should reduce the odds of an interest rate cut at the July meeting.
From a technical perspective, the price is already facing a strong zone and the chances of a decline are high. However, this trade carries a higher than normal risk, as we can never know how the market may interpret inflation data and its impact on future interest rate cuts.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Note
📣GOLD
After the U.S CPI data gold fell to 3346.30.
The price looks bearish and the candles are still read. It's difficult to say how it can behave later but so far is still bearish
Note
Almost reached the second target:)Trade closed: target reached
Based on our analysis from yesterday, gold reacted as expected and fell near the second target of $3,320.
In 25 min, we have the U.S Producer Price Index ex Food & Energy (YoY) (Jun) data and the market expects a decline to 2.7% vs. 3% last month.
This should create some strange moves, but I think the downward movement should continue further today for the other targets.
The risk remains high on this trade.
Note
GOLD NEW ANALYSIS: Click the picture to open
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
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.