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Xauusdbuy

700 pip downside move in goldOne of the largest moves caused by the unexpected US inflation data has been in gold. Gold has finally broken through the monumentally important support level of $1,680 and has pushed all the way down to ~$1,660/oz. Gold achieved this huge break to the downside in one four-hour period. Before this, gold was already feeling the downside pressure, experiencing a drop from ~$1,730 to ~$1,700 in the immediate aftermath of Tuesday’s US inflation data. Total movement to the downside in gold since Tuesday now sits at around 700 pips. Gold weakness is being driven by the expectation that the US Federal Reserve will enact a greater-than-expected interest rate hike next week. The markets are currently pricing in the 30% chance that the Fed delivers a 100-basis-points rate hike. For one, ex-Treasury Secretary Larry Summers is calling for a 1% hike. The markets are now pricing in a 30% chance of a 75-basis-points hike because US inflation subsided less than expected (8.3% vs 8.1% expected) on Tuesday. However, the worst data point is the 0.1% increase in core CPI (excludes volatile energy and food prices), a shocking result after the markets got used to the idea that inflation (in all its measurements) had peaked.
BLACKBULL:XAUUSD
by BlackBull_Markets
XAUUUSD LONG PROJECTION XAUUSD BUY PROJECTION Technical and fundamental Reason for the XAUUSD LONG 1. Last week friday 1d candle closed above the support region of 1710 and denotes the bullish monemtum 2. single candle confirmation indicates bullish as it formed teh Inverted Bullish hammer (Bullish move continued) 3. Formed teh Triangle flag patterna and push higher Fundamental Reason DXY reached the 20 year High and retest teh montly low of 108.00 in the following days as expexted Overall Projection XAUUSD/GOLD BUY @ 1710-1715 Stoploss - 1690 Target - 1769 Target and stoploss will vary according to the market change and it just an financial advive not a confirm call
FX:XAUUSDLong
by kripsonfx97