Big week for the markets this Wednesday ! We got two key events to watch . ☠️
US Consumer Price Index (CPI): This report tells us how much inflation is happening in the US economy .
Federal Reserve Interest Rate Decision: Everyone waiting to see if the Fed will keep interest rates the same or change them .
What's the buzz ? Although most people think the Fed will hold rates steady , the inflation data and Fed Chair Jerome Powell's press conference will give us some hints about whether they might cut rates later this year .
Technical Talk: Short-Term Gold
Now, let's get down to the charts and see what gold might do on the 1-hour timeframe.
Now, let's get down to the charts and see what gold might do on the 1-hour timeframe.
Scenario 1: Bullish Breakout
If gold can break above that zone between 2303 and 2307 , that could be a bullish sign .
If gold can break above that zone between 2303 and 2307 , that could be a bullish sign .
Scenario 2: Bearish Breakout
On the other hand , if it breaks below the 2291-2286 zone , that could be a bearish signal .
On the other hand , if it breaks below the 2291-2286 zone , that could be a bearish signal .
But remember , this is just the markets playground ! Nobody can predict gold prices perfectly . It all depends on how market sentiment .
Your best bet ? Learn how to spot rejections and breakouts . These skills will help you figure out where gold might be headed next , even if you cant predict the future .
$Gold Futures(AUG4)(GCmain.US$
$Gold Futures(AUG4)(GCmain.US$
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9+ years trading experience . Can navigate a market crash but still tripping over my crush . 😍🥹😭
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poem_view : In the long run, you should still hold on to gold.
King Crab OP poem_view :