GOLD IS MAKING CORRECTION BELOW AT 2702
Smart Money Concept:
Initial jobless claims for the week ending January 10 rose to 217,000, up from 201,000 the previous week and missing the forecast of 210,000. Recent inflation data and comments from Fed Governor Waller pressured the US Dollar, as traders grew hopeful about an earlier rate cut. Waller hinted that a rate reduction might be on the table for the March meeting, citing progress toward the Fed's 2% inflation target. Meanwhile, Chicago Fed President Austan Goolsbee voiced optimism about the stabilization of the labor market in an interview with The Wall Street Journal.
SET UP GOLD PRICE:
BUY GOLD zone: $2692.751 - $2688.050 SL $2681
TP1: $2699.717
TP2: $2706.700
TP3: $2717.621
SELL GOLD zone: $2726.722 - $2726.929 SL $2728 Scalping
TP1: $2718.241
TP2: $2709.374
TP3: $2699.922
SELL GOLD zone: $2731.906 - $2735.229 SL $2739
TP1: $2725.272
TP2: $2714.732
TP3: $2702.179
Initial jobless claims for the week ending January 10 rose to 217,000, up from 201,000 the previous week and missing the forecast of 210,000. Recent inflation data and comments from Fed Governor Waller pressured the US Dollar, as traders grew hopeful about an earlier rate cut. Waller hinted that a rate reduction might be on the table for the March meeting, citing progress toward the Fed's 2% inflation target. Meanwhile, Chicago Fed President Austan Goolsbee voiced optimism about the stabilization of the labor market in an interview with The Wall Street Journal.
SET UP GOLD PRICE:
BUY GOLD zone: $2692.751 - $2688.050 SL $2681
TP1: $2699.717
TP2: $2706.700
TP3: $2717.621
SELL GOLD zone: $2726.722 - $2726.929 SL $2728 Scalping
TP1: $2718.241
TP2: $2709.374
TP3: $2699.922
SELL GOLD zone: $2731.906 - $2735.229 SL $2739
TP1: $2725.272
TP2: $2714.732
TP3: $2702.179
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