GOLD → How might today's news affect gold?

2024年1月11日

XAUUSD is trading in a range, as evidenced not only by trading between levels, but also between moving averages. The reason for this is the controversial fundamental environment.



The market is reacting weakly to bullish news for the dollar because fundamentally it is already overheated. Speculators react very strongly to negative news than positive news and in the current environment this is worth considering.
Important news is being published today. In general, analysts are expecting bullish CPI data and bearish Initial Jobless Claims data. Bad data for the $ will push gold up, to the point where the price could change its local trend. But good news for the $ may continue to form an actual range for gold 2015 - 2050.
It is worth paying attention to the strong resistance on the dollar 102.6, technically, the index is ready to go down and very strongly (This should have a positive impact on the price of gold), but I wonder what will show today the funamental market.

Support levels: 2030, 2020, 2015
Resistance levels: 2039, 2049

On the news, the price may test strong zones. At the moment, there is no clear understanding of the strength of the news we will receive, but according to a number of assumptions we have a chance to strengthen the price of gold

DXY GC1! MGC1!

Regards R. Linda!

2024年1月11日

註釋

CPI (YoY) (Dec) 3.4% instead of 3.2%
CPI (MoM) (Dec) 0.3% instead of 0.2%
Initial Jobless Claims 202K instead of 210K

Overall this is bullish news for the dollar.
Gold's correction may continue

2024年1月11日

交易結束：目標達成