GOLD (XAUUSD): Core CPI Ahead! Your Plan:
Don't forget that today's CPI release is expected, and gold is likely to react significantly to this news.
Here are the possible scenarios:
📈 Bullish Scenario
The market has formed an ascending triangle on the 1-hour chart and is currently testing its neckline.
A break and close above this level would be a strong bullish signal, potentially pushing prices up to the 2635 level.
📉Bearish Scenario
There is a strong rising trend line that the price is currently respecting.
A bearish break and a 4-hour candle close below this trend line would be a strong bearish signal.
The market could then drop to the 2545 level.
Wait for the news release and then look for a breakout to confirm the direction.
Here are the possible scenarios:
📈 Bullish Scenario
The market has formed an ascending triangle on the 1-hour chart and is currently testing its neckline.
A break and close above this level would be a strong bullish signal, potentially pushing prices up to the 2635 level.
📉Bearish Scenario
There is a strong rising trend line that the price is currently respecting.
A bearish break and a 4-hour candle close below this trend line would be a strong bearish signal.
The market could then drop to the 2545 level.
Wait for the news release and then look for a breakout to confirm the direction.
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