Smart investment, Strong finance
GOLDEN INFORMATION:
The early European session witnesses a loss of momentum for the price of gold, which hovers around $1,955. The XAU/USD pair experiences some downward pressure as tensions between the United States and China escalate over technology access, resulting in a strengthening US Dollar across all markets. Simultaneously, the US Dollar Index (DXY), an indicator measuring the Greenback's value against six major currencies, gains strength above 102.00.
On Monday, Chinese authorities released additional policy guidelines; however, no specific plans to revitalize their struggling economy and domestic consumption were announced. This lackluster activity data has increased pressure on officials to take action and left investors dissatisfied with the current situation.
Personal comments NOVA:
Through the current world economic situation, gold price many times could not overcome the resistance zone of 1975. Good news supporting the USD is also the reason why GOLD prices continue to fall this week
SET UP GOLD PRICE:
BUY GOLD zone: $1940 - $1942 SL $1930
TP 1: $1950
TP2: $1965
Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY 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