🔥 XAU/USD - CPI's effect on $GOLD (READ THE CAPTION)
Updated
By checking the gold chart in the weekly time frame, we see that the price is trading in the range of $2348, today we will have the CPI statistics, and if the actual rate is announced higher than the predicted rate, we can expect a fall in gold.
I still don't see any signs of price reversal on the chart and I think we should wait for more powerful movements to change the trend or even a price correction!
If the price starts to fall, its targets are $2338, $2330 and $2312 respectively!
If the price above the $2345 level is supported, we can expect growth to higher targets such as $2360, $2370, $2380 and $2400!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
I still don't see any signs of price reversal on the chart and I think we should wait for more powerful movements to change the trend or even a price correction!
If the price starts to fall, its targets are $2338, $2330 and $2312 respectively!
If the price above the $2345 level is supported, we can expect growth to higher targets such as $2360, $2370, $2380 and $2400!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Note
GOLD is falling !🔽 $2338 Reached ✅Note
GOLD is falling !🔽 $2330 Reached ✅Note
▶️ What Happend with #CPI ? Overall CPI Increase :
• The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.4 percent in March on a seasonally adjusted basis, which is the same increase as in February.
• Over the last 12 months, the all items index increased by 3.5 percent before seasonal adjustment.
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