Gold trend is waiting for U.S inflation report after better than expected U.S NFP release

Gold, XAUUSD, is consolidating from 2018 to 2040-2041 after the better than expected U.S NFP release last Friday Jan 05, 2024.

The 2040-2041 is the key zone because gold went from 2040-2041 to 2063-2064 after the NFP release, but it dropped heavily after that and broke the 2040-2041 to consolidate from 2018 to 2040.

Gold has tested the 2039-2041 several times and it has been sold off to 2018-2021. Gold short term trend is bias toward down and it is waiting for U.S Inflation report at 13:30 GMT on Jan 11, 2024 to make its next movement.

The U.S inflation release is the key event for gold to break the 2018-2021:

Case 1: Gold will drop to 2009-2011 and further to 1975-1980 if the US Dollar gets stronger after the inflation release.

Case 2: Gold will end its correction and it will go up to break the 2029-2041 to go up to 2063-2065 or 2083-2089

The 2039-2041 is the key zone for today gold trend, gold trend is down if it is trading bellow the 2039-2041.

Bellow is $1400 profit Gold Signal to Sell 2030-2032 after yesterday’s hot U.S inflation report

$1400 profit after better than expected U.S CPI release

Would you like to Stop Losing and Make $4,500 Profit / month? Please Click Here to join 1000 pro gold traders community

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.