U.S. consumer prices rose sharply in February, indicating that inflation is somewhat sticky. Data showed that the consumer price index (CPI) in February increased by 0.4% from the previous month and 3.2% from the same period last year, higher than the expected 3.1%. This further reduces the possibility of the Federal Reserve cutting interest rates before June. The market is now focused on the Federal Reserve interest rate decision on March 19. However, in this interest rate decision, the Fed is unlikely to cut interest rates. There is a high probability that the current interest rates will remain unchanged.
Yesterday, CPI changed the upward trend of gold. It can be seen that 2195 is the top of this cycle. Under the downward trend, gold can wait for the resistance point to sell.
The support of the 10-day moving average of the daily cycle is now 2135. On Wednesday, we need to observe Tuesday's low of 2150 and the strength of the support of 2135. In the H4 cycle, you need to wait for it to fall below 2150, pull the Bollinger Band open, and make it open, in order to confirm that gold has begun a downward trend.
If you don’t know how to trade, join me, learn with me, and improve the success rate of trading profits
Comment:
Wait patiently for opportunities and profits will increase
Trade active:
The resistance range is now 2178-2183
