Chapter 43 Is Gold going up?
13/06/2023
Summary
The CPI inflation rate in the US leads the market
Fundamental analysis
Fundamentally in this pair, We see the data released today in the USA The inflation rate went down from 4.9% to 4% Which will give weakness to the US dollar because this might lead to The Federal Bank Reserve holding increasing interest rates higher.
U.S. CPI YoY (Not SA) (May)
Prev.: 4.9%
Act.: 4%
Technical analysis
In this 4-hour diagram chart, the market price now is1946.00, we expect the market to move After hitting this big demand zone at 1935.00 to push the price up to the previous supply zone at 1984.00 with the 20-moving average pointing down.
Trading Recommendation
Trading Direction: Long
Entry Price: 1957.12
Target Price: 1985.00
Stop Loss: 1939.71
