💯GOLDEN PLAN DAILY November 15
👉 Gold rose sharply amid plunging bond yields as a surprise drop in inflation reinforced expectations that the Fed's tightening cycle is over and interest rates will soon be cut. October CPI in the US increased by 3.2% compared to the forecast of 3.3%, while core CPI increased by 0.2% m/m compared to the forecast of 0.3%, this is the lowest increase in the past 2 years. According to the interest rate market, the likelihood of another rate hike has dropped to almost zero and there is a possibility of a 50bp reduction in interest rates in July.
👉 The US Dollar Index fell 1% while the 10-year US Treasury yield hit a low more than a month after the data is boosting the appeal of bullion.
👉 After CPI, investors will also monitor US producer price index data. Last week, Fed Chairman Jerome Powell commented that the central bank is not sure that interest rates are high enough to contain inflation. Although considered a traditional inflation hedge, higher interest rates increase the opportunity cost of holding bullion.
👉 TECHNICAL COMMENTARY: Gold has broken the downtrend and shown a strong upward momentum. Today I will prioritize Buy orders and wait for news tonight
📌Trading plan:
🔽 Sell Gold Entry: 1978 -1980
SL 1983
TP 1970
🔼 Buy Gold Entry: 1952 - 1955
Sl 1950
TP 1965 -1977 -1988
👉 Gold rose sharply amid plunging bond yields as a surprise drop in inflation reinforced expectations that the Fed's tightening cycle is over and interest rates will soon be cut. October CPI in the US increased by 3.2% compared to the forecast of 3.3%, while core CPI increased by 0.2% m/m compared to the forecast of 0.3%, this is the lowest increase in the past 2 years. According to the interest rate market, the likelihood of another rate hike has dropped to almost zero and there is a possibility of a 50bp reduction in interest rates in July.
👉 The US Dollar Index fell 1% while the 10-year US Treasury yield hit a low more than a month after the data is boosting the appeal of bullion.
👉 After CPI, investors will also monitor US producer price index data. Last week, Fed Chairman Jerome Powell commented that the central bank is not sure that interest rates are high enough to contain inflation. Although considered a traditional inflation hedge, higher interest rates increase the opportunity cost of holding bullion.
👉 TECHNICAL COMMENTARY: Gold has broken the downtrend and shown a strong upward momentum. Today I will prioritize Buy orders and wait for news tonight
📌Trading plan:
🔽 Sell Gold Entry: 1978 -1980
SL 1983
TP 1970
🔼 Buy Gold Entry: 1952 - 1955
Sl 1950
TP 1965 -1977 -1988
評論:
+250 pip! Done TP 2 Buy
