Gold trading strategy on February 25, 2023
A key inflation gauge used by the Federal Reserve, known as the personal consumption expenditures index, rose 0.6% in January, faster than the 0.2% gain in December.
On a year-over-year basis, PCE rose to 5.4% in January from 5.3% in December. Core prices, excluding fuel and food, rose 0.6% and 4, respectively, 7% for the month and for the whole year.
Hotter-than-expected inflation could encourage the Fed to keep rates higher for longer. The market expects the central bank to raise interest rates by a quarter of a percent in March and again in May. The policy rate is expected to hit 5.36% by mid-summer and could sustain it. at a high level for the remainder of 2023.
Recommendations for trading after PCE
Support level: 1,800.30 1,797.45 1,782.90
Resistance levels: 1,834.00 1,845.99 1,860.00
Trading recommendation:
Buy soup at the price range 1809 - 1808
Stop Loss: 1803
Take profit 1: 1823
Take profit 2:1830
Take profit 3: 1835
Note: Always set TP and SL in all trading cases
On a year-over-year basis, PCE rose to 5.4% in January from 5.3% in December. Core prices, excluding fuel and food, rose 0.6% and 4, respectively, 7% for the month and for the whole year.
Hotter-than-expected inflation could encourage the Fed to keep rates higher for longer. The market expects the central bank to raise interest rates by a quarter of a percent in March and again in May. The policy rate is expected to hit 5.36% by mid-summer and could sustain it. at a high level for the remainder of 2023.
Recommendations for trading after PCE
Support level: 1,800.30 1,797.45 1,782.90
Resistance levels: 1,834.00 1,845.99 1,860.00
Trading recommendation:
Buy soup at the price range 1809 - 1808
Stop Loss: 1803
Take profit 1: 1823
Take profit 2:1830
Take profit 3: 1835
Note: Always set TP and SL in all trading cases
Commentaire:
XAUUSD CLOSE PROFIT + 90Pips ✅ ✅ ✅ according to buy strategy 1808 - 1809
