The world gold price gained modestly after a series of quiet days thanks to the weakening of the USD. Early this morning, the US Dollar Index, which measures the volatility of the greenback, fell 0.19%, increasing the attractiveness of gold to buyers holding other currencies.
The precious metal will face some significant challenges in the short term. Short-term Treasuries currently offer yields around 5%, which is significant competition for gold, which offers no yield and costs money to hold.
Currently gold price is at fibo 0.382 which shows a sideways level of gold. Tonight we will prioritize selling Gold around 1930. During the day, we will watch scalping to buy
Note
NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
Note
Based on technical indicators EMA 34, EMA89 and support resistance areas with FIBONANCY to set up a reasonable SELL order.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.