XAUUSD: Gold defines a range but upside remains favored

Spot Gold peaked at $2,048.14 a troy ounce in the aftermath of the United States (US) inflation data announcement but currently trades in the red in the $2,025 region. XAU/USD soared as the US Consumer Price Index (CPI) rose by 4.9% YoY in April, slightly below the 5% expected, and by 0.4% MoM, in line with the market expectations. Inflation keeps running hot in the world’s largest economy but, indeed, continues to ease from the record highs posted in mid-2022.

Buy GOLD 2028 - 2025

Stoploss: 2022

Take profit 1: 2033
Take profit 2: 2037
Take profit 3: 2043

Sell GOLD 2043 - 2047

Stoploss: 2051

Take profit 1: 2035
Take profit 2: 2025

Trade closed: target reached:

BUY 2025 => to 2041. +160pips ✅✅✅