The Fed and the Interest Rate - The story continues....來自Aleksandr Shirin

08 Jul 2023, 21:21 · 閱讀量 44

The Fed still believes that inflation will continue to rise. They have already scheduled a 
rate hike at the end of July. But the release of employment reports in June made the timing of 
the increase unclear. The Fed is aiming to cut inflation, which is now above its target. Officials are 
indeed worried that inflation may rise despite favorable labor market conditions.

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喜歡的話，讚賞支持一下

Now - a little respite. The intermediate goal of 1915 was achieved. Here, many short positions were closed. By the way, my sales, which I wrote about earlier, also closed here with a small profit. Now everyone needs to gather their strength. I think there may be some local upward movement after the (possible!) breaking through the level of 1920. Next, most likely, there will be some consolidation with attempts to test 1915 again. After consolidation, I expect the downward movement to continue with an assault on 1900 - 1980.

Aleksandr Shirin

XAU - technical profile. Currently there is a struggle for the level of 1921.50. Gold needs to rise above this level and stay above it. It will be better if this happens in the next two hours. After exceeding this mark, further growth can be expected, quite possibly until 1950.

Aleksandr Shirin

XAU - review. This is not the first time in more than 10 days that gold quotes have tested the strength of the 1926 level and retreated without achieving success. In my opinion, buyers have long given up leadership to sellers. I think the biggest success for buyers, which will most likely be expressed in a breakdown of the 1900 level and consolidation below this level, is yet to come. Perhaps, and most likely, this will be connected with the Fed meeting, which is expected this week. Currently we have a resistance zone of 1926-1930 and a support level around 1900.

Aleksandr Shirin