🔥 XAU/USD - CPI is coming , Bull or Bear ? (READ THE CAPTION)

Well, as you can see and we mentioned it in the previous analysis, today we will have CPI statistics! The predicted rate for CPI Y/Y is 2.9%, if the actual number is higher than the expected rate, we will witness the growth of the dollar index and consequently the heavy fall of gold! Note that this scenario is only valid if the actual rate is higher than the forecast! If this scenario is realized, its targets will be $2020, $2016, $2012, and $2007, respectively! What do you say ?

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban

Comment:

Boom !

$2020 Reached ✅
$2016 Reached ✅✅

💥 CPI m/m ~ 0.3% (Higher Than Expected)
💥 CPI y/y ~ 3.1% (Higher Than Expected)
💥 Core CPI m/m ~ 0.4% (Higher Than Expected)

Comment:

What Happend with CPI ?

• The CPI-U increased 0.3 percent in January 2024, and 3.1 percent over the last year.

• The shelter index was the main contributor to the monthly increase, while the energy index declined due to lower gasoline prices.

• The index for all items less food and energy also increased 0.4 percent in January, and 3.9 percent over the last year.

• The food index increased 0.4 percent in January, and 2.6 percent over the last year.

Prepared by : Arman Shaban

Comment:

GOLD ~ $2020 Reached ✅
GOLD ~ $2016 Reached ✅✅
GOLD ~ $2012 Reached ✅✅✅

Trade closed: target reached:

All Closed ! FULL TARGET REACHED !

GOLD ~ $2020 Reached ✅
GOLD ~ $2016 Reached ✅✅
GOLD ~ $2012 Reached ✅✅✅
GOLD ~ $2007 Reached ✅✅✅✅

Trade closed manually:

The Last Update : Gold dropped from $2031 to $1990! Well, as you can see, based on the expectation and scenario we had, the CPI rate was announced higher than expected, and this caused a heavy fall in gold! With the arrival of the news, the price first entered the supply range of $2031 to collect liquidity, and then it was accompanied by a heavy fall and was able to correct by more than 400 pips to $1991! The price finally filled the FVG that it created 2 months ago with today's downward movement! The important demand range ahead is $1978 to $1987 ! Key Point : Gold has created a huge liquidity Void with its fall from $2031 to $1990, which I expect to be filled in the medium term!

Write to me what price you think gold will be closed on by Friday ?