Dear Traders,
Today, gold prices are hovering around the $2,915 - $2,922 range, unable to break out or drop significantly just yet. At first glance, the market seems calm, but in reality, it's holding its breath, waiting for a major breakout.
What’s the reason? The upcoming CPI & PPI data from the U.S. will be a key catalyst. If inflation continues to decline, the market may expect the Fed to cut interest rates sooner, providing gold with a bullish push. However, if inflation remains high, the Fed could maintain high interest rates for longer, putting significant pressure on gold prices.
From a technical perspective, XAUUSD remains trapped in a long-term downtrend channel. At the same time, the Bollinger Bands are narrowing, signaling potential price compression. This makes the $2,922 resistance level a critical barrier. If gold fails to break above this level, a pullback toward $2,900 – $2,880 is likely in the coming sessions.
In short, gold is at a major turning point. Breaking above $2,922 could trigger a rally toward $2,930. But if it fails, a deeper decline toward $2,880 is entirely possible.
Happy trading, and may your profits be golden!
Today, gold prices are hovering around the $2,915 - $2,922 range, unable to break out or drop significantly just yet. At first glance, the market seems calm, but in reality, it's holding its breath, waiting for a major breakout.
What’s the reason? The upcoming CPI & PPI data from the U.S. will be a key catalyst. If inflation continues to decline, the market may expect the Fed to cut interest rates sooner, providing gold with a bullish push. However, if inflation remains high, the Fed could maintain high interest rates for longer, putting significant pressure on gold prices.
From a technical perspective, XAUUSD remains trapped in a long-term downtrend channel. At the same time, the Bollinger Bands are narrowing, signaling potential price compression. This makes the $2,922 resistance level a critical barrier. If gold fails to break above this level, a pullback toward $2,900 – $2,880 is likely in the coming sessions.
In short, gold is at a major turning point. Breaking above $2,922 could trigger a rally toward $2,930. But if it fails, a deeper decline toward $2,880 is entirely possible.
Happy trading, and may your profits be golden!
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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.