XAUUSD Analysis
US Core Inflation Declines
Gold prices rose after US core inflation data came in lower than expected. This data is seen as a sign of easing inflationary pressures and revives expectations that the Federal Reserve's rate-cutting cycle may not be over.
Testing Psychological Resistance
Gold prices are currently testing the psychological resistance area around 2700. A breakout above this resistance has the potential to push gold prices even higher.
Forecast: STRONG XAUUSD
Trade Plan:
- BUY AREA: 2699.55 - 2712.55
- Stop Loss (SL): 2673.55
- Take Profit (TP):
- TP1: 2735.12
- TP2: 2769.87
- TP3: 2803.61