The gold chart has been moving within a range for the past 25 days, with traders seemingly undecided on its future direction 📊.
The resistance level is at $2,530, while the support level is around $2,470.
With the upcoming **Federal Reserve** meeting and the **US CPI inflation** report set to be released tomorrow, Wednesday, September 11th, the gold market might experience a significant move after this period of consolidation.
If inflation decreases, it will likely weaken the **US Dollar** and benefit **gold** 📈. On the other hand, if inflation increases, the **US Dollar** may strengthen, which could negatively affect **gold** prices 📉.
In the case of an upward breakout from the current range, given the weak upward momentum seen on the daily chart, it’s recommended to set a target of **half the range height** for the next move 📏. Similarly, if the price breaks downwards, considering this move would be against the long-term trend, a target equal to **half the range height** would also be a reasonable approach.
💬 What are your thoughts on the next move for gold?
- Trend Analysis
- Support and Resistance
- Fundamental Analysis
📈💡 #GoldAnalysis #USD #Inflation #Tradecitypro #TCP
The resistance level is at $2,530, while the support level is around $2,470.
With the upcoming **Federal Reserve** meeting and the **US CPI inflation** report set to be released tomorrow, Wednesday, September 11th, the gold market might experience a significant move after this period of consolidation.
If inflation decreases, it will likely weaken the **US Dollar** and benefit **gold** 📈. On the other hand, if inflation increases, the **US Dollar** may strengthen, which could negatively affect **gold** prices 📉.
In the case of an upward breakout from the current range, given the weak upward momentum seen on the daily chart, it’s recommended to set a target of **half the range height** for the next move 📏. Similarly, if the price breaks downwards, considering this move would be against the long-term trend, a target equal to **half the range height** would also be a reasonable approach.
💬 What are your thoughts on the next move for gold?
- Trend Analysis
- Support and Resistance
- Fundamental Analysis
📈💡 #GoldAnalysis #USD #Inflation #Tradecitypro #TCP
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🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.