The downtrend continues before PMI news
Updated
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The price of gold is continuing its upward trend after bouncing back from the $1,914-$1,913 range, which was the weekly low. During the Asian session on Friday, XAU/USD is trading around $1,925 region with a slight increase of 0.20% for the day. This marks a break in its three-day losing streak.
However, there doesn't seem to be any clear reason behind this rise in gold prices and it may lose momentum quickly due to the Federal Reserve's commitment to raise interest rates until inflation reaches their target of 2%. The Fed has even warned that inflation in the United States could lead to another 25 basis points increase before the end of this year.
⭐️Personal comments NOVA:
A week with mostly positive news for the dollar, it is predicted that today's PMI numbers will continue to benefit the dollar, gold prices will continue to decline.
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $1931 - $1934 SL $1940
TP1: 1925
TP2: 1918
TP3: 1910
⭐️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:
The price of gold is continuing its upward trend after bouncing back from the $1,914-$1,913 range, which was the weekly low. During the Asian session on Friday, XAU/USD is trading around $1,925 region with a slight increase of 0.20% for the day. This marks a break in its three-day losing streak.
However, there doesn't seem to be any clear reason behind this rise in gold prices and it may lose momentum quickly due to the Federal Reserve's commitment to raise interest rates until inflation reaches their target of 2%. The Fed has even warned that inflation in the United States could lead to another 25 basis points increase before the end of this year.
⭐️Personal comments NOVA:
A week with mostly positive news for the dollar, it is predicted that today's PMI numbers will continue to benefit the dollar, gold prices will continue to decline.
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $1931 - $1934 SL $1940
TP1: 1925
TP2: 1918
TP3: 1910
⭐️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
Note
Gold prices declined for the third consecutive day on Thursday. The decrease occurred as open interest decreased, suggesting that a significant decline may not be likely at the moment. However, there is potential for a short-term recovery, with the initial target being the weekly high of $1947 per troy ounce (September 20th).Note
The price hits the weak resistance zone of 1925-1927 and is trending down slightlyNote
Gold price fluctuates in a very small amplitude after PMI news, resulting in conflicting news, both good and bad for the Dollar. The mentality of waiting for next week
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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