Gold: Bearish Bat Vs Rate Cut Expectation

Now the gold price at 1338 level, bearish zone for typical harmonic traders with good rr ratio.

While on the other hand,if us cpi data keeps weak tonight, in turn enhance the expectation of fed rate cut, may cause weak dollar then in favor of the gold momentum.

For bullish side, eyes on data tonight and the previous high at 1348 last week. 1356 as ultimate goal

For bearish side, short now or at around 1342, with sl at 1348, tp 1320

Kommentera:

My entry and exit arrows since last Friday.

1337-1338 act as strong resistance

Kommentera:

upside bias, eyes on fomc minutes this week