XAUUSD Inflation data making the move today
Inflation was released today.
The inflation has decreased to 8,3%, however the price of goods are increasing and is higher than before, with 6,3%. Don't forget tomorrow we have PPIndex to be release tomorrow.
About the chart:
We can see the first resistance at Fibo 23,6%, and this show us a strong resistance for the next hours.
We calso have a triangle that had already been crossed when the inflation was released.
The BB Line is opening what means we have a large volatility and with EMA above basis line from BB and with a descent trajectory
The MACD also have a good resitance and support already crossed as we can see.
We think the next support that could be crossed is the 1692.699, making the perfect Fibo pattern until the next data released
The inflation has decreased to 8,3%, however the price of goods are increasing and is higher than before, with 6,3%. Don't forget tomorrow we have PPIndex to be release tomorrow.
About the chart:
We can see the first resistance at Fibo 23,6%, and this show us a strong resistance for the next hours.
We calso have a triangle that had already been crossed when the inflation was released.
The BB Line is opening what means we have a large volatility and with EMA above basis line from BB and with a descent trajectory
The MACD also have a good resitance and support already crossed as we can see.
We think the next support that could be crossed is the 1692.699, making the perfect Fibo pattern until the next data released