⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) gained traction during the Asian session on Thursday, breaking a two-day losing streak and halting the pullback from its recent record high. The US Dollar's recovery following the Federal Reserve meeting lost momentum after a brief rise, which supported renewed demand for gold. Additionally, concerns over potential economic slowdowns in both the US and China, along with escalating tensions in the Middle East, boosted the safe-haven appeal of gold.
However, the Federal Reserve signaled a cautious approach to large interest rate cuts, leading to a rise in US Treasury yields, which may limit further gains for gold. Traders are now awaiting key US economic data, including Jobless Claims, the Philly Fed Manufacturing Index, and Existing Home Sales, for additional direction.
⭐️Personal comments NOVA:
Gold price completed the upward cycle reaching the expectation of $2,600 - within the H1 frame's downward cycle, moving within two H1 trend lines.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2531 - $2529 SL $2524
TP1: $2545
TP2: $2560
TP3: $2573
🔥SELL GOLD zone: $2575 - $2573 SL $2578 scalping
TP1: $2568
TP2: $2560
TP3: $2550
🔥SELL GOLD zone: $2583 - $2585 SL $2590
TP1: $2570
TP2: $2560
TP3: $2550
⭐️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