⭐️GOLDEN INFORMATION: The price of gold (XAU/USD) is experiencing a decline for the fifth consecutive day during the early Asian trading session on Tuesday. The ongoing narrative of the US Federal Reserve (Fed) advocating for a prolonged period of higher interest rates is exerting downward pressure on the non-yielding yellow metal. Investors are eagerly awaiting the release of crucial US inflation data, as it may offer insights into the Fed's future decisions regarding interest rates. Currently, the price of gold is hovering around $2,018, reflecting a decrease of 0.06% for the day.
Meanwhile, the US Dollar Index (DXY), which measures the value of the USD against a basket of six major world currencies, remains stable at approximately 104.12. The yields on US Treasury bonds are slightly increasing, with the 10-year yield currently standing at 4.17%.
⭐️Personal comments NOVA: Gold prices tend to continue DOWN during the Monday trading session, it is expected that the price will continue in the downtrend and can approach the price range of $2005.
⭐️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
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Gold price decreased slightly and returned to trading below the $2020 area
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Gold price suddenly rebounded before today's CPI news, approaching the resistance price area of $2030
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Still prioritizing the DOWN trend today, set up SELL $2028-$2030
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+ 20 pips, signal PLAN DAY Sell 2028-2030
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+ 130 pips, win signal plan day SELL 2028-2030
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+ 230 pips , signal SELL 2028-2030
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+ 50 pips , signal plan day BUY 1995-1997
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Gold prices dropped very sharply after CPI news, correct technical trend and still high inflation level of the US economy
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