XAUUSD: What Will Happen to Gold if CPI > 3.8%? GoldOANDA:XAUUSDmelikatrader94Hi! Gold is under heavy pressure on the daily chart, trading well below its 100-day SMA ($4,570.386). A series of three descending trendlines (long-term, medium-term, and aggressive) continues to cap any recovery attempts. The Setup & Targets Immediate Support: A key horizontal floor sits at $3,880. The Projected Path: We are likely to see a slide to test $3,880, a quick relief bounce to retest the aggressive trendline, and a final breakdown toward the major demand zone at $3,700 (aligning with a $33\%$ correction from the highs). The Macro Trigger: CPI > 3.8% ⚠️ The upcoming CPI report is the ultimate make-or-break catalyst for this setup: If CPI prints greater than 3.8%: This will boost the USD, destroy gold's momentum, and easily spark the breakdown past $3,880 straight to the $3,700 target. Keep your risk managed!! I’m excited to announce that I’m now a Brand Ambassador for AvaTrade!