XAUUSD H4 Triangle Pattern

Economic Data:

US Non-Farm Payrolls (NFP): Released on Friday, January 6th, the NFP report showed stronger-than-expected job growth, potentially raising concerns about inflation and future interest rate hikes. This could push investors towards the safe-haven gold, providing it with some support.

US Consumer Price Index (CPI) (Jan 11, 2024): Inflation remains a key concern, and a higher-than-expected CPI could boost the dollar and put downward pressure on gold.

Geopolitical Events:

Tensions between Russia and Ukraine: The ongoing conflict in Eastern Europe continues to be a source of uncertainty for financial markets. Any escalation in tensions could lead to a flight to safety and boost gold prices.

Weekly Forecast (Jan 8 to Jan 12) :
XAU/USD - H4 Chart - Triangle Formation
Price must need to break Triangle and Retest, then only able to take Entry.

Always wait for strong Conformation in Short term for entry. 👈👈👈

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“Markets are never wrong, but opinions often are.”-Jesse Livermore

Good Luck💛💛

Comment:

1. U.S. CPI data Yesterday, grew slightly more than expected, But still there is Double side Movements In USD Pairs and Gold in this week.

2. Because, have increased their bets that the Fed will begin cutting rates by as soon as March, The tool showed traders pricing in a 70.2% chance for a 25 basis point cut in 2024, up from the 64.7% chance seen a day ago.