Bulls, bears are in contention at the 1950's price zone
Updated
Smart investment, Strong finance
GOLDEN INFORMATION:
The gold price has started the new week with little activity, trading within a tight range just above the $1,950 level in the Asian session. Although this range-bound price movement could still be considered a bullish consolidation phase, caution is advised before taking any significant corrective decline position from the one-month peak achieved on Friday.
The US dollar is holding steady above its lowest level since April 2022, thanks to the fact that consumer confidence in the United States has risen to its highest level since September 2021. This, in turn, is seen as a barrier for the gold price. The preliminary University of Michigan Consumer Confidence Index for July was 72.6, surpassing even the most optimistic estimates, and the highest level since September 2021. According to the report, inflation expectations for the next year rose slightly to 3.4% from 3.3% in June, but this was still lower than the high of 5.4% in April 2022.
Personal comments NOVA:
At the beginning of the week, the gold price still moved in the sideway zone of 1950 - 1965, there was not much important news to help bulls or bears dominate.
SET UP GOLD PRICE:
SELL GOLD zone: $1955 - $1957 SL $1967
TP 1: $1950
TP2: $1942
BUY GOLD zone: $1942 - $1945 SL 1930
TP1: $1950
TP2 : $1960
Technical analysis:
Based on the perception that gold price sideways in a narrow range, combine weekly and monthly support and resistance zones to have good entry points and high profits.
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 gold price has started the new week with little activity, trading within a tight range just above the $1,950 level in the Asian session. Although this range-bound price movement could still be considered a bullish consolidation phase, caution is advised before taking any significant corrective decline position from the one-month peak achieved on Friday.
The US dollar is holding steady above its lowest level since April 2022, thanks to the fact that consumer confidence in the United States has risen to its highest level since September 2021. This, in turn, is seen as a barrier for the gold price. The preliminary University of Michigan Consumer Confidence Index for July was 72.6, surpassing even the most optimistic estimates, and the highest level since September 2021. According to the report, inflation expectations for the next year rose slightly to 3.4% from 3.3% in June, but this was still lower than the high of 5.4% in April 2022.
Personal comments NOVA:
At the beginning of the week, the gold price still moved in the sideway zone of 1950 - 1965, there was not much important news to help bulls or bears dominate.
SET UP GOLD PRICE:
SELL GOLD zone: $1955 - $1957 SL $1967
TP 1: $1950
TP2: $1942
BUY GOLD zone: $1942 - $1945 SL 1930
TP1: $1950
TP2 : $1960
Technical analysis:
Based on the perception that gold price sideways in a narrow range, combine weekly and monthly support and resistance zones to have good entry points and high profits.
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
The price is still sideways in the 1950-1955 zone, the price runs quite slowly at the beginning of the weekNote
This week has little news affecting Gold, the price will accumulate for a certain period of time in the H4 frameNote
+ 50 pips from entry 1956Note
+ 150 pips from entry BUY 1945
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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