Gold price tends to decrease - sellers try to prevail
Updated
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices rebounded from multi-day lows on Wednesday but stayed under the $2,500 mark as the US Dollar gained strength. Despite this, ongoing geopolitical tensions and expected Fed rate cuts could support gold in the near term.
Later in the day, the release of JOLTS Job Openings and the Fed's Beige Book will be closely watched. Investors are eagerly awaiting Friday's US August Nonfarm Payrolls report, which could influence the Fed's rate decisions in September. A weaker-than-expected report might heighten recession fears and prompt faster rate cuts, potentially boosting gold further as lower rates make it more attractive.
⭐️Personal comments NOVA:
Gold broke 2500, fell back to 2470 after yesterday's PMI news, moving in the short-term H1 downtrend.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2462 - $2460 SL $2455
TP1: $2470
TP2: $2480
TP3: $2490
🔥SELL GOLD zone: $2505 - $2507 SL $2510 scalping
TP1: $2500
TP2: $2495
TP3: $2490
🔥SELL GOLD zone: $2513 - $2515 SL $2520
TP1: $2500
TP2: $2485
TP3: $2470
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️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
⭐️GOLDEN INFORMATION:
Gold prices rebounded from multi-day lows on Wednesday but stayed under the $2,500 mark as the US Dollar gained strength. Despite this, ongoing geopolitical tensions and expected Fed rate cuts could support gold in the near term.
Later in the day, the release of JOLTS Job Openings and the Fed's Beige Book will be closely watched. Investors are eagerly awaiting Friday's US August Nonfarm Payrolls report, which could influence the Fed's rate decisions in September. A weaker-than-expected report might heighten recession fears and prompt faster rate cuts, potentially boosting gold further as lower rates make it more attractive.
⭐️Personal comments NOVA:
Gold broke 2500, fell back to 2470 after yesterday's PMI news, moving in the short-term H1 downtrend.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2462 - $2460 SL $2455
TP1: $2470
TP2: $2480
TP3: $2490
🔥SELL GOLD zone: $2505 - $2507 SL $2510 scalping
TP1: $2500
TP2: $2495
TP3: $2490
🔥SELL GOLD zone: $2513 - $2515 SL $2520
TP1: $2500
TP2: $2485
TP3: $2470
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️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
Trade active
Gold price shows that the selling pressure before the news of interest rate reduction in September is high. Stuck in the border of 2 H1 trendlines
Trade active
Gold price adjusted downward to continue below the 2480 areaTrade active
Gold price recovered to the 2490 area before the US sessionTrade active
Data results (7,673 < 8,090) are bad for the dollar - gold rebounded above 2490 zoneTrade active
Gold price grew back to 2490-2500 after the news was announced.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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