XAUUSD : Gold prices fell after US CPI was higher than forecast

Gold price adjusted to $2,160 after US CPI news.

During the March 12 session, gold adjusted sharply down after the US CPI data was released and the precious metal is currently trading around $2,160. With the RSI indicator starting to trend downward after touching the overbought zone, XAU/USD may also correct in the near future. Gold's current support is around the old peak at $2,145, beyond which is the $2,088 threshold.

For gold prices to surpass $2,200, it may require a stronger interest rate cut from the Fed. But, below are possible reasons why that won't happen.

Trade active:

🔝 XAUUSD : Trading plan March, 13, 2024

🪙 We have 2 levels to have a good entry for the BUY signal :

💲 Entry 1 Buy Scalping : 2151 - 2153
💵TP1 : 2157
💵TP2 : 2165
🔴 SL : 2143

💲Entry 2 Buy Limit : 2145 - 2147
💵TP1 : 2153
💵TP2 : 2157
🔴 SL : 2140

🪙 We have 2 levels to have a good entry for the SELL signal :

💲Entry 1 Sell (Scalping) : 2165 - 2167
💵TP1 : 2160
💵TP2 : 2155
🔴 SL : 2173

💲Entry 2 Sell Limit : 2169 - 2171
💵TP1 : 2165
💵TP2 : 2160
🔴 SL : 2180

⚡️⚡️⚡️Note: For transactions, please leave full TP and SL to ensure safety and bring profit from the market. ‼️

🔔 Admin : @Eva_trade811

Trade active:

Entry 2 sell - running 30 pips🔼🔼🔼

Trade active:

💵Entry 2 Sell - HIT TP1 60 pips - Closed 1/2 Move SL to Entry ⚡️⚡️⚡️ 🪙🪙🪙

Comment:

Sell : 2173 - 2175
💵TP1 : 2170
💵TP2 : 2165
🔴 SL : 2180