CPI blockbuster data hits, will it break through or fall again?

2024年9月11日

At present, the controversy over whether the Fed will cut interest rates by 25 basis points or 50 basis points in September is still uncertain. Since March this year, the US CPI data has continued to decline, and this CPI is the last heavy data before the Fed's September meeting, and it is also the last chance to shake the expectation of interest rate cuts. As of now, the market expects a 69% probability of a 25 basis point rate cut in September and a 31% probability of a 50 basis point rate cut. Therefore, the results of today's CPI data release are likely to affect the sharp fluctuations in gold.

Regardless of the results of today's data release, we must be cautious in trading, because the results of large fluctuations are difficult to judge. At the same time, in addition to the direct impact on the economy, it will also affect the expectations of interest rate cuts. At that time, the large fluctuations in gold prices up and down also need to be prevented.

As can be seen from the 4H chart, there is a strong resistance near the 2530 line. So far, it has failed to break through 7 times. Whether it will fall again or set a new high depends on the results of the CPI release.

Here I give the following trading strategies for your reference:
The first option is to sell at a high level, with a target of around 2505.
The second option is to wait for the price to fall back to around 2505 and buy.

2024年9月11日

交易進行

The CPI results will be announced in 5 minutes. We can close our high-level Sell orders now and keep the profits.

2024年9月11日

交易進行

You can consider buying in the 2500-2505 area

2024年9月11日

交易進行

Now it seems that gold has basically received support in the 2500-2505 area and has been fluctuating above 2505. We can continue to hold the order.

2024年9月11日

交易進行

The price of gold has now reached 2515, and the profit margin is very good. You can now make a profit and close it, or continue to hold it.