Intraday Analysis - ( 15 FEB 2023 )
POST CPI DATA ANALYSIS
CPI DATA was released yesterday with still relatively high inflation although there was a slight improvement compared to previous month but it came out higher than forecasted. This caused a lot of indecision in price action during data released which is why its best to stay away from the charts.
My bias for dollar domination stands as inflation is still high and hiking rates is inevitable. Looking at price action on the higher timeframe, we can see gold making lower lows and lower highs with failure to break previous intraday highs as well.
Despite the choppy price action , i am still looking for shorts long term.
HRHR SELLS AT 1855
MRMR SELLS AT 1852
SAFEST SELLS BELOW 1847 - 1846
i would only look for buys upon closure back above 1864 cancelling out the whole downside caused during cpi. Creating a new intraday high signifying dollar weakness and potential pull backs on dxy.
POST CPI DATA ANALYSIS
CPI DATA was released yesterday with still relatively high inflation although there was a slight improvement compared to previous month but it came out higher than forecasted. This caused a lot of indecision in price action during data released which is why its best to stay away from the charts.
My bias for dollar domination stands as inflation is still high and hiking rates is inevitable. Looking at price action on the higher timeframe, we can see gold making lower lows and lower highs with failure to break previous intraday highs as well.
Despite the choppy price action , i am still looking for shorts long term.
HRHR SELLS AT 1855
MRMR SELLS AT 1852
SAFEST SELLS BELOW 1847 - 1846
i would only look for buys upon closure back above 1864 cancelling out the whole downside caused during cpi. Creating a new intraday high signifying dollar weakness and potential pull backs on dxy.