XAUUSD Plan for CPI and Interest Rate Decision Week
**Repost from Dec 11th 2022 since the original post disappeared**
Regardless of the results from announcement of economic numbers, it would not be surprising to see gold price drop since the current price is standing near significant resistance area around 1810 USD.
However, it would not be wise to open a short position until the break of uptrend structure is broken either from smaller time frame such as 15 min is making lower lows or the price closes below the uptrend regression channel in 1H time frame. There are two support levels to stop the bearish momentum at 1781 USD and 1765 USD. If the price does not break below 1781 USD, it has a chance of testing at 1823
Regardless of the results from announcement of economic numbers, it would not be surprising to see gold price drop since the current price is standing near significant resistance area around 1810 USD.
However, it would not be wise to open a short position until the break of uptrend structure is broken either from smaller time frame such as 15 min is making lower lows or the price closes below the uptrend regression channel in 1H time frame. There are two support levels to stop the bearish momentum at 1781 USD and 1765 USD. If the price does not break below 1781 USD, it has a chance of testing at 1823