XAUUSD: 3/13 Today’s Analysis and Strategy
Gold fluctuated within a narrow range on Wednesday and is currently around 2159. The price of gold fell back nearly $30 on Tuesday, once touching 2150, a drop of more than 1%. The U.S. inflation report dimmed the prospect of an imminent interest rate cut by the Federal Reserve. The price of gold plummeted by nearly $25. The U.S. dollar index edged higher after a shock on Tuesday.
A red-hot U.S. inflation report dimmed prospects for a Fed rate cut soon! U.S. inflation data was hotter than expected, but not extreme. This led traders to still believe that June is the most likely time for the Federal Reserve to start cutting interest rates. The U.S. dollar recovered slightly, causing the price of gold in U.S. dollars to fall by more than 1%.
U.S. consumer prices rose sharply in February amid rising gasoline and housing costs, suggesting that inflation is somewhat sticky and further reducing the likelihood that the Federal Reserve will cut interest rates before June. Although the U.S. Labor Department's inflation reading on Tuesday rose for a second straight month, the composition of the report remained consistent with a trend of slowing inflation. Inflation-weary Americans are getting some relief from grocery store and medical bills.
Gold technical analysis
Daily resistance is 2184, support below is 2150-24
Four-hour resistance is 2200, support below is 2167-53
✅Gold operation suggestions:
Affected by the CPI data on Tuesday night, gold experienced a rapid decline like a roller coaster, and then suddenly rose. The highest continued to reach the 2183 line and began to fall back. We also gave a long suggestion of 2151-56.
Gold ushered in a daily level adjustment after the non-farm payrolls hit a high of 2195 last Friday.
From the daily analysis, today’s lower support focuses on the early 4-hour long-short conversion level near 2150. The upper pressure first looks at around 2166-70. The short-term bull strong dividing line is 2184. The key lower support during the day focuses on around 2150.
BUY: 2147~53
BUY: 2165~70
Technical analysis only provides trading direction!
A red-hot U.S. inflation report dimmed prospects for a Fed rate cut soon! U.S. inflation data was hotter than expected, but not extreme. This led traders to still believe that June is the most likely time for the Federal Reserve to start cutting interest rates. The U.S. dollar recovered slightly, causing the price of gold in U.S. dollars to fall by more than 1%.
U.S. consumer prices rose sharply in February amid rising gasoline and housing costs, suggesting that inflation is somewhat sticky and further reducing the likelihood that the Federal Reserve will cut interest rates before June. Although the U.S. Labor Department's inflation reading on Tuesday rose for a second straight month, the composition of the report remained consistent with a trend of slowing inflation. Inflation-weary Americans are getting some relief from grocery store and medical bills.
Gold technical analysis
Daily resistance is 2184, support below is 2150-24
Four-hour resistance is 2200, support below is 2167-53
✅Gold operation suggestions:
Affected by the CPI data on Tuesday night, gold experienced a rapid decline like a roller coaster, and then suddenly rose. The highest continued to reach the 2183 line and began to fall back. We also gave a long suggestion of 2151-56.
Gold ushered in a daily level adjustment after the non-farm payrolls hit a high of 2195 last Friday.
From the daily analysis, today’s lower support focuses on the early 4-hour long-short conversion level near 2150. The upper pressure first looks at around 2166-70. The short-term bull strong dividing line is 2184. The key lower support during the day focuses on around 2150.
BUY: 2147~53
BUY: 2165~70
Technical analysis only provides trading direction!
Trade aktif:
Gold is running slowly today, waiting for a breakthrough in NY time. Then determine whether it is going up or down. The rebound and rise will reach 2175~2180. If it continues to fall and falls below 2150, it will probably reach the 2144~2134 area.
Trade aktif:
Break through the platform to go long and trade with the trend
Trade aktif:
If you followed my free sharing in the morning and sold near 2170, you have also made a good profit now
Trade aktif:
Data shows that the main players have invested a lot of money in the long position
Trade aktif:
Go long and profit again
Trade aktif:
Follow the main force to go long and make profits again
Trade aktif
Trade aktif
Join my Telegram channel to get
✅Free VIP signal.
✅Daily market analysis
✅Account management
✅More than 2000pips profit every month
t.me/Makemorecoins
✅Free VIP signal.
✅Daily market analysis
✅Account management
✅More than 2000pips profit every month
t.me/Makemorecoins
