XAUUSD - DAILY PLAN 01/09: Follow Up Trend

XAUUSD - DAILY PLAN 01/09:
- Gold prices fell sharply today under pressure from rising Treasury yields as expectations of interest rate cuts by the US Federal Reserve (Fed) are fading and investors await inflation data. US inflation this week to provide more clarity on the future interest rate path.

- A report released late last week showed the United States created more jobs in December than economists in a Reuters poll expected. That has raised some doubts about the possibility that the US Central Bank will start cutting interest rates in March.

- According to the CME FedWatch tool, the market currently forecasts a 69% chance that the Fed will cut interest rates at the Fed's policy meeting on March 19 and 20. The US is expected to release consumer price index data on Thursday.

📌Trading plan:
🔼 Buy Gold Entry: 2019 - 2017
Stop Loss: 2014
Take Profit: 2026 -2038 -2045

🔽 Sell Gold Entry: 2070 -2073
Stop Loss: 2075
Take Profit: 2064 - 2058 – 2045