Can XAU/USD Bulls Regain the Momentum After US CPI Release?
September 14, 2021|The Forex Secret –XAU/USD is trading with a corrective momentum after breaking below the dynamic 20 EMA with a bearish daily close. Now investors should closely monitor how the US CPI gets released where the current projection is lower than the previous report, which is positive for the US Dollar. What bulls may do? Let’s check out the detailed analysis of the XAU/USD.
XAU/USD Bears Are Stable Below the Dynamic Level
In the daily chart, XAUUSD bears took control over the price and managed to break below the dynamic 20 EMA with a bearish daily close. Moreover, the price remained corrective after a few days which is a sign of an active bear’s presence in the price. Therefore, as long as the price is trading below the dynamic 20 EMA, we can expect that the bearish pressure may extend towards the 1762.05 support level.
On the other hand, investors should find the price above the 1800 psychological level to rely on the bullish momentum. In that case, the ultimate target would be to catch the liquidity from the 1840 area.
What We Can Expect from the XAUUSD?
As per the above findings, we can expect that the XAUUSD bears would be active until the price breaks above the 1800 level with a bearish daily close. Moreover, investors should closely monitor how the US CPI is releasing where the current analysts projected is lower than the previous result, which is positive for USD.
- XAUUSD Possible Sentiment: Bearish
- XAUUSD Invalidation level: 1803.00
- XAUUSD Bearish target: 1862.05