GOLD: Positive Levels Here?
Hello everyone! Today i want to share some macro analysis with you!
1.
U.S. CPI after the market view ‘big change’! The Fed next week to cut interest rates 50 basis points may be completely ‘fizzled’!
With strong inflation and job market data to strengthen the Federal Reserve's prudent course of action, the bond market has been the end of a long time for the Federal Reserve will cut interest rates this month 50 basis points of speculation.
The probability that the Fed will cut rates by 50 basis points next week was downgraded to near zero. Yields on policy-sensitive United States two-year Treasuries initially rose 9.5 basis points to 3.69%, while yields on 10-year Treasuries rose 4 basis points to 3.68% $Cboe Volatility Index(VIX)$
2.
Technical: Gold prices topped at 2528.95 on Wednesday. After the release of U.S. CPI data, gold prices changed course and fell towards the 2,500 level for a while. However, gold prices met buyers around 2500. Now with gold prices breaking back above 2510, the target is to retest the record highs in the 2530 region.
In the short term, gold is in a neutral to bullish stance according to the 4-hour chart. Gold prices are trading above the converging 20-period SMA and 100-period SMA, which are near 2507. Technical indicators, on the other hand, are bouncing from near their midlines and maintain an upward bias within positive levels. $Gold - main 2412(GCmain)$
Things to focus on :
Support levels: 2507-2490-2475
Resistance levels : 2520-2531-2545.
Trading is dominated by sell order trades!
Follow me to learn more about analysis!!
https://x.com/TradersXauusd/status/1834104913993097320
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
