VasilyTrader

GOLD (XAUUSD): CPI Data Ahead! Your Plan🥇

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OANDA:XAUUSD   Ouro/Dólar Americano

Traders, do not forget that we are expecting the CPI data tomorrow.
Depending on the figures, I see 2 potential scenarios on Gold.

Bullish Scenario
1942 - 1946 is a key horizontal resistance.
If the market breaks and closes above that, I will expect a bullish continuation
to a major falling trend line.

Bearish Scenario
1924 - 1934 is a key horizontal support that the price is approaching now.
Its bearish breakout and a daily candle close below will push the prices lower.
Next goal will be 1910.

Wait for a breakout and the follow the market.

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