Xauusd:How much room is there for growth?

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Today will usher in the most important data of the week-the annual and monthly rates of the U.S. CPI price index for October. Judging from market expectations, there is only a 3.3% growth rate, but the previous value is 3.7%, which means that everyone is generally optimistic about the U.S. inflation last month.

In addition, a survey by the New York Fed showed that inflation expectations after one year fell from 3.7% in September to 3.6%, inflation expectations after three years were 3%, the same as in September, and inflation expectations after five years will fall from 2.8% in September to 2.7%.

This is still far from the Fed's 2% target, and the pace of tightening may not stop easily.

Yesterday's gold was the same as I expected, rebounding in the first support range

Judging from yesterday's rebound, it is a short-term stop-fall signal. For today's market, we must pay attention to the trend of the US market. CPI data is an unavoidable risk point.Whether it is good or bad will have a big impact on the gold price.

If you avoid the CPI data, on the technical side, I personally think that the probability of continuing the rebound is greater. As long as the rebound continues, today's pullback will give everyone more opportunities.

Yesterday the lowest point was in 1931 and the highest point was in 1949, so today it needs to rise and must break through 1950.

We need to pay attention to the upper resistance point range:
1960-1965
1952-1955
Pay attention to the range of support points below:
1935-1940
1930-1933

So you can still buy gradually in the support range today, and strictly set a stop loss to prevent the unfavorable CPI data. You can also wait for the CPI data to be released before trading to improve your success rate.

If you don't know how to trade, join me and let us learn together to improve the success rate

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Waiting is easier to succeed than rushing to trade

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After the CPI is announced, if gold rises directly, you can choose the resistance range to sell, and cautious traders can wait for the second resistance range to sell.

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If the CPI data is not good for gold, observe whether it will fall below yesterday's low before trading

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Friends who buy can reduce their positions and guarantee profits

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If gold can't break through 1970, you can try to sell it

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Today's strategy is basically correct. As long as you follow my strategy, your success rate will be greatly increased. Join me and subscribe.

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Join me and subscribe

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Today I will continue to share my views and join me