🔴 XAUUSD : Inflation Data (CPI) effect

As you can see, the price took the second scenario and entered its 4-hour Bearish Order Block yesterday with a strong move towards the $1719 range, and this caused the price to reject from $1722 to $1702, That is, with this scenario, the price dropped by more than 200 pips, but it has not yet managed to consolidates below $1704, and according to the previous analysis, the important condition for a further drop and reaching our desired targets ($1695 and $1675) is consolidation below this price! Be careful these days the market is more tense due to the US Congress elections and you should be more careful in taking and managing your trades !

🔴 CPI (m/m) : USD
🔴 CPI (y/y) : USD
🔴 Core CPI (m/m) : USD
🟠 Unemployment Claims : USD

📌 Waiting for Inflation Data of this month!

📎 Usual Effect : ‘Actual' greater than 'Forecast' is good for currency!

📒 Why do we care ? Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate !
The Main Analysis before Updates :

NEW analysis of $GOLD (XAUUSD)


The Caption of it :

As you can see, the price with a Spike growth yesterday caused a Fair Value Gap (FVG) that caused by liquidity Void , this range is from $1675 to $1708, in such cases different scenarios can happen that the final result Each can be shared! This means that in the first scenario, if the price consolidates below $1710 and it closes below $1704 , we can expect this gap to be filled and the price will fall to $1695 as the first target and $1675 as the last target! The second scenario is growth again up to the Bearish Order Block (from $1719 to $1729) and then reject from this level! The third scenario is growth up to LMH (the highest price recorded in the previous month) to collect liquidity and then a powerful rejection from this level! Decision making based on each of these scenarios is based on the trigger at the moment!

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⚠️ This Analysis will be updated ...
👤 Arman Shaban : ArmanShabanTrading
📅 11.10.2022
⚠️(DYOR)

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