Gold Price Forecast: XAU/USD bears taking on critical daily support By ross_burland Commodities DollarIndex Gold Fed CPI
The dollar has been choppy on Tuesday, fluctuating between modest gains as traders get set for Wednesday's big event in the USwhich could give clues on the likely path of the Federal Reserve's monetary policy.
prices challenging the psychologically important $1850/oz range, the additional CTA flow could be sufficient to spark a breakdown in this technical level.''Tomorrow's CPI is expected to rise by 0.5% MoM in April and headline to rise by 0.3%, as food and energy prices eased, according to analysts at ANZ bank.
The M-formation is a reversion pattern so there could be a meanwhile bid at this juncture on failures to crack the daily support initially. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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