1206 CPI+FED big day for GOLD
Hello traders,
The previous week , Canada and the European Central Bank—both allies of the United States—taking the initiative to reduce interest rates.
Although the rate cut is not large, the purpose of cutting interest rates can be considered to cool down their high domestic debt on the one hand, and to provide a little buffer space for the Federal Reserve to cut interest rates on the other. Because of interest rate differentials, after Canada and the European Central Bank cut interest rates, some liquidity may flow back to the United States, bringing a respite to the tight liquidity in the United States. Now it is expected that no changes for Fed RATE in this week.
Check on this daily chart for GOLD, it get support again from the red line after a sharp down last Friday. Gold's narrow range of shocks on Monday and Tuesday may accelerate its upward movement under the blessing of tonight's CPI data.
Considering that the outcome of the Federal Reserve interest rate is coming later, it is recommended that the fluctuations end after the London market opens, choose the opportunity to buy long orders, control the position well, and hold the position until the Federal Reserve discusses interest rates.
I am long on gold, but if there is an unexpected interest rate result, the stop loss must be within a range that I can accept. This is an opportunity that I think is worthwhile.
GOOD LUCK!
LESS IS MORE!
The previous week , Canada and the European Central Bank—both allies of the United States—taking the initiative to reduce interest rates.
Although the rate cut is not large, the purpose of cutting interest rates can be considered to cool down their high domestic debt on the one hand, and to provide a little buffer space for the Federal Reserve to cut interest rates on the other. Because of interest rate differentials, after Canada and the European Central Bank cut interest rates, some liquidity may flow back to the United States, bringing a respite to the tight liquidity in the United States. Now it is expected that no changes for Fed RATE in this week.
Check on this daily chart for GOLD, it get support again from the red line after a sharp down last Friday. Gold's narrow range of shocks on Monday and Tuesday may accelerate its upward movement under the blessing of tonight's CPI data.
Considering that the outcome of the Federal Reserve interest rate is coming later, it is recommended that the fluctuations end after the London market opens, choose the opportunity to buy long orders, control the position well, and hold the position until the Federal Reserve discusses interest rates.
I am long on gold, but if there is an unexpected interest rate result, the stop loss must be within a range that I can accept. This is an opportunity that I think is worthwhile.
GOOD LUCK!
LESS IS MORE!
专注黄金和原油
直接扫码入群：
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Focusing on COMMODITY GOLD N OIL
//
Wechat微信:ziyuvera
Tele: t.me/VeraFuntrader
直接扫码入群：
www.red-ring.cn/group/22462
Focusing on COMMODITY GOLD N OIL
//
Wechat微信:ziyuvera
Tele: t.me/VeraFuntrader
I got my buying order hit STOP LOSS with little profit.
The central bank also held its benchmark rate steady, in a range between 5.25% and 5.5%, a move that was widely expected.
“This was a very encouraging number,” said Laurence Meyer, a former Fed governor who runs an economic advisory firm. “I’d need to see more before cutting, but I think September is in play” for the first-rate cut.
But “The story is that they’re not ready to cut rates. And Gold is facing a head and shoulder reversal shape soon.