1) If core PCE reading comes below 4% ,then FED would reduce interest rate.
This is to control the inflation.
2) PCE would rise 4.7 % based from last year ,likely to lead US dollar to
strengthen.
3) Jay Powell is likely to hike interest rate to 75 bps
4)August job report has no changes and it is still at 3.5%
The fundamental range is between 1750 -1776
XAUUSD: The trend is Bearish.
Technical Analysis
XAUUSD :See weekly timeframe for below :
1) Resistance area : 1774.10 to 1807.93
2) Support area : 1741.80 – 1697.70
Seek for sell or buy opportunity , entry at lower timeframe or based on your own technical analysis understanding.
Sources from Investing.com
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