Technically, Gold price remains exposed to downside risks, as the 14-day Relative Strength Index (RSI) continues to hold below the midline, despite the latest bounce.
A hot US inflation report will revive the selling interest around the Gold price, smashing it through the key support near the $1,910 region to challenge the critical 200-Daily Moving Average (DMA) at $1,900.
A sustained break below the latter will put the June 29 low of $1,883 to the test.
Only the downbeat US CPI data could rescue Gold buyers from monthly lows, with the recovery likely to face an initial hurdle at the $1,930 round figure, above which the downward-sloping 50-DMA at $1,944 could be challenged.
The next significant upside barrier is seen at the $1,950 psychological level.
Today's strategy is to SELL OANDA:XAUUSD around 1929 - 1931
SL : 1940
TP 1: 1926 TP 2: 1923 TP 3: 1920
Install TP, SL to win and preserve profits
Trade active
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Trade closed: target reached
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HIT FULL TP 100pip ❇️❇️❇️ congrats to those who follow the signal