XAU short term trading strategy

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The US Bureau of Labor Statistics released a positive Consumer Price Index (CPI). Accordingly, US inflation increased by 0.2% in July, as expected by economists, but year-on-year inflation increased by only 2.9%, lower than the expected 3%. Lower inflation will give the US Federal Reserve (Fed) more grounds to cut interest rates soon. The USD will fall when the Fed reverses monetary policy. Normally, gold moves inversely to the USD

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SELL XAU 2454

TP1: 2448
TP2: 2440
SL: 2462