XAUUSD ANALYSIS CPI DAY 11-7-24 #GOLD #goldeducation

Jul 11, 2024

🚨 XAUUSD (Spot Gold) CPI DAY ANALYSIS🔖 11-7-2024🚨

Sell at: $2396-$2410-$2424-$2448 🔻
Buy at :$2330-$2305-$2285-$2260🔺

CMP -$2380.10 (as of writing) 💹

⚠️ Warning: Do not risk more than 5% of your capital. You might lose your money.🔴

🚨📝Data scheduled to be published at 18:00 hrs -23:30 hrs🔖

18:00-Continuing Jobless Claims 1,858K
18:00-Core CPI (MoM) (Jun) 0.2% 0.2%
18:00-Core CPI (YoY) (Jun) 3.4% 3.4%
18:00-CPI (MoM) (Jun) 0.1% 0.0%
18:00-CPI (YoY) (Jun) 3.1% 3.3%
18:00-Initial Jobless Claims 236K 238K
21:00-FOMC Member Bostic Speaks
22:30-Year Bond Auction 4.403%
23:30 USD Federal Budget Balance (Jun) -347.0B

📊💹Fundamentals that might impact XAUUSD: Date: 11 July 2024 📌:

Gold Market Update: Gains Amid Fed Speculation: Gold prices saw modest gains due to:
•Speculation of US Federal Reserve rate cuts by September
•Global political uncertainties boosting gold's safe-haven appeal
•Upcoming US CPI inflation data to offer more clarity on interest rates ✅✅

World Gold Council (WGC) Report:
•Second consecutive month of inflows into gold ETFs in June
•Total holdings rose by approximately 18 tones to 3,106 tones

People's Bank of China (PBoC):
•No gold purchases in June after significant buying in May
China holds 72.80 million troy ounces of gold

Trading Strategy: Given the current market dynamics, we suggest the following:
🟢For Potential Rebound:
• Buy Entry Target Range: $2388(TP1)- $2405(TP2)-$2420(TP3)
🔴For Potential Downtrend:
• Sell Entry Target Range: $2360(TP1)- $2350(TP2)- $2340(TP3)

🔴Technical Status: XAUUSD: 📌
D1 SMA100-P (2320.38) Buy🔺
H4 SMA100-P (2399.85) Sell🔻
H1 SMA100-P (2340.89) Buy🔺
H4 SMA200-P (2418.14) Sell🔻

RSI(14): Status: Overbought
STOCHRSI(14): Status: High Volatility
ROC: Status: Neutral
William%R: Status: Neutral
ATR(14): Status: Sell
SOC: Status: Sell

Jul 12, 2024

Trade closed manually

Kindly Exit from $2424 Sell Trade , Let us book Profit in $2424 Trade at cmp $2407.75✅

$2424 was achieved on11-7-24 at 21:00 hrs📌


Total Movement $16.25 📌✅🔻
$1625 Profit in 1 lot
$8125 Profit in 5 lots
$16250 Profit in 10 lots

Note : Sell from $2410 Range trade is open 🔻
Book that trade in profit as well and close with minimum profit
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