Bullish Inflation Data Fuels Gold Rebound — Impulsive Waves!?

5月15日

Gold(XAUUSD) started to fall from the Resistance zone($3,280-$3,245) as I expected in the previous idea, but 50_SMA(Daily) and Support lines were able to hold Gold.
----------------------------------
Today, key U.S. economic data was released:

Core PPI m/m: -0.4% (vs. 0.3% forecast)

Core Retail Sales m/m: 0.1% (vs. 0.3% expected)

PPI m/m: -0.5% (vs. 0.2% forecast)

Retail Sales m/m: 0.1% (in line)

Unemployment Claims: 229K (as expected)

Outlook:

The weaker-than-expected inflation data, especially the PPI figures, indicate easing inflationary pressures. This may increase expectations for potential Fed rate cuts, which generally supports gold as a non-yielding asset.

Conclusion:

Today’s data is overall bullish for gold. Watch for continued upside if sentiment shifts further toward dovish Fed expectations. However, keep an eye on upcoming Fed commentary for confirmation.
----------------------------------
Gold is moving above the Heavy Support zone($3,200-$3,136) and has managed to break the Resistance lines.

In terms of Elliott Wave theory, Gold seems to have completed the corrective waves, and we can expect the start of an impulsive wave. Breaking the Resistance zone($3,280-$3,245) can be a good sign for the start of an impulsive wave and a gold pump.

I expect Gold to start rising again after a pullback to the Resistance lines(broken), probably from the Fibonacci Levels inside the chart, and attack the Resistance zone($3,280-$3,245).

Note: If Gold touches $3,154 [Stop Loss(SL)], we can expect more dumps.

Gold Analyze ( XAUUSD ), 1-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

5月16日

交易進行

Trade was activated

5月16日

註釋

Still alive, Gold did not touch $3,154

5月19日

交易結束：目標達成

Target Done

The Stop Loss(SL) was $3,154, which dropped to $3,154.30 :).

You could have profited from both short and long positions in this analysis.