Gold next Buy betwen 2406-2416

Hello traders,

We are spotting a short trade on Gold followed by a strong Buy,

The area which #XAUUSD should fall to is 2406-2416 So we are sellimh from here all the way down.

And then we would buy after a test of 2400 level, Most likely we get a bounce from 2406 lets wait and see, if the Gold price breaks the 2400 level, our next buy would be 2384.

Fundamentals,
#FEDS are expected to lower rates 3 times this year, but seems Mr. Powel and his team could surprize the market and lower only once. This would be negative for gold.

There is always a gap between market expectations and FEDS, and this what creats volatility here. #Inflation has dropped #USIRYY eases from 9.1 all the way down to 3.0, last month was 3.3 and the forecasted reading was 3.1 but numbers came better than expected and dropped to 3.0 which was seen as very bullish for Gold and Stocks.

Also unemplyment claims came higher than expected, as well #UNRATE the USA unemployment rose from 3.3 bottom to 4.1 , last month was 4.0 and was forecasted to remain at 4.0 but it was a surprize at 4.1.

The Gost of rising unemplyment would put Pressure on the Feds to lower rates faster, as they fear the recession.

We are looking to see a fall in Gold before the rise.