All eyes on Fed Chair Powell to testify before Congress today

11 Şub

Gold News:

🔆All eyes are on the US CPI report and Fed Chair Jerome Powell’s speech to Congress this week

🔆Last week’s jobs report showed continued signs of recovery in the labor market. A surprisingly lower unemployment rate, higher wages and an upward revision to December employment suggest the US labor market is closing out 2024 on solid footing.

🔆Recent data suggest the labor market has regained momentum. This suggests that risks have eased, so the Federal Open Market Committee (FOMC) will likely wait to see how first-quarter inflation data and economic policy play out before making further moves on the federal funds rate

🔆The CPI report due on February 12 is also important news as it is the Fed's preferred measure of inflation to adjust interest rates accordingly

Personal opinion:

🔆Fed Chairman Powell will likely act in a hawkish manner and not rush to cut interest rates while waiting to see if President Trump's tariff policies cause inflation to spike.

🔆However, the priority should be to assess the potential risks of tariffs on inflation and then monetary policy.

Technical analysis:

🔆Based on Fibonacci combined with Resistance - Support Zones and Trend Lines


Plan:

🔆Price Zone Setup:

👉Buy Gold 2888 -2886
❌SL: 2881 | ✅TP: 2892 - 2900 – 2910


👉Sell Gold 2955 -2957
❌SL: 2964 | ✅TP: 2950 - 2945 – 2935

Thank you for reading my comment: "FM"

11 Şub

İşlem aktif

Hit + 40 pips from plan 2886.5 GREAT

11 Şub

İşlem kapandı: hedefe ulaştı

Hit + 90 pips or maybe more. profit for everyone