⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) climbed for the third consecutive day, hitting a new all-time high of $2,589 during Monday’s Asian session. Traders are factoring in the possibility of a larger Fed rate cut due to signs of easing US inflation, which has weakened the US Dollar near its yearly low, boosting gold.
Additionally, US political uncertainty and ongoing geopolitical risks continue to support demand for the safe-haven metal. However, a positive tone in global equities limits further gains. Traders are cautious ahead of key central bank decisions from the Fed, BoE, and BoJ this week.
⭐️Personal comments NOVA:
Gold price is still on the path to increase in price to reach a new ATH - Positive FOMO from the market before the news of interest rate reduction this week
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2565 - $2563 SL $2558
TP1: $2572
TP2: $2580
TP3: $2590
🔥BUY GOLD zone: $2551 - $2549 SL $2544
TP1: $2557
TP2: $2563
TP3: $2570
🔥SELL GOLD zone: $2600 - $2602 SL $2607
TP1: $2590
TP2: $2575
TP3: $2560
⭐️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