XAUUSD Analysis
- US Jobless Claims Increased, CPI Also RoseYesterday, gold prices climbed after U.S. jobless claims rose to 258,000 from 230,000. On the other hand, the CPI showed an increase, reinforcing expectations that the Fed might only cut interest rates by 25 basis points next month. This combination of data temporarily prevented the USD from weakening further.
- Held Back by Down TrendlineThe rise in gold prices has been limited by the downtrend line visible on the H1 time frame. Today's sell opportunity can still be found around this trendline area.
Prediction:
- WEAK XAUUSD
Trade Plan:
- Sell Area: 2633.75 - 2642.22
- Stop Loss (SL): 2655.00
- Take Profit (TP1): 2621.76
- Take Profit (TP2): 2605.75
- Take Profit (TP3): 2589.50