PMI catalyzed Gold prices to break out
Updated
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) continues to move sideways during the European session on Friday and is trading below a high reached the previous day in the range of $2,047-2,048. The release of positive macroeconomic data from the United States on Thursday, coupled with a stronger-than-expected monthly jobs report on Friday, suggests that the US economy is resilient and raises doubts about the possibility of an early policy easing by the Federal Reserve (Fed) in March 2024. As a result, US Treasury bond yields have experienced a modest recovery, and this, combined with an overall risk-on sentiment driven by hopes of Chinese stimulus, is creating a challenging environment for gold as a safe-haven asset.
⭐️Personal comments NOVA:
In recent weeks, there has been a common scenario: during the week there is a certain accumulation, Friday will be a strong fluctuation in price. The excitement of the market still exists so the expectation is that the price will continue to increase.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2009 - $2011 SL $2002
TP1: $2020
TP2: $2030
TP3: $2040
Pay attention to the 2021-2023 support zone, set up a BUY signal
🔥SELL GOLD zone: $2063 - $2065 SL $2073
TP1: $2055
TP2: $2048
TP3: $2040
⭐️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
⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) continues to move sideways during the European session on Friday and is trading below a high reached the previous day in the range of $2,047-2,048. The release of positive macroeconomic data from the United States on Thursday, coupled with a stronger-than-expected monthly jobs report on Friday, suggests that the US economy is resilient and raises doubts about the possibility of an early policy easing by the Federal Reserve (Fed) in March 2024. As a result, US Treasury bond yields have experienced a modest recovery, and this, combined with an overall risk-on sentiment driven by hopes of Chinese stimulus, is creating a challenging environment for gold as a safe-haven asset.
⭐️Personal comments NOVA:
In recent weeks, there has been a common scenario: during the week there is a certain accumulation, Friday will be a strong fluctuation in price. The excitement of the market still exists so the expectation is that the price will continue to increase.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2009 - $2011 SL $2002
TP1: $2020
TP2: $2030
TP3: $2040
Pay attention to the 2021-2023 support zone, set up a BUY signal
🔥SELL GOLD zone: $2063 - $2065 SL $2073
TP1: $2055
TP2: $2048
TP3: $2040
⭐️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
Note
A little comment to end the week: 🌙Looking at the Chart, we can see that the price continues to be sideways, accumulating in the Yellow area.
However, there has been a slight change. After 3 attempts to overcome the 2040 resistance zone, Gold price has successfully surpassed and approached the 2050 zone but does not have enough force to increase strongly.
This shows that the buyers are still dominant. widening the sideway amplitude of the higher price increase zone. Therefore, Gold price is still able to continue its huge BUY trend
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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