⭐️GOLDEN INFORMATION: The price of gold (XAU/USD) continues to gain momentum after breaking through the $2,008-2,010 resistance level earlier this week. It has now climbed higher for the fifth consecutive day on Wednesday. This positive movement has also led to the commodity reaching a near seven-month high, around the $2,052 mark, during the Asian session. Looking ahead, the short-term outlook for gold remains optimistic due to the ongoing weakness in the US Dollar (USD), driven by expectations of a dovish Federal Reserve (Fed) stance.
⭐️Personal comments NOVA: The growth of Gold at the end of the year has been predicted in advance. Optimism and excitement cover the entire market
⭐️Technical analysis: If the Asian session low is breached in a corrective pullback, it is anticipated that there will be substantial support and new buyers around the $2,035-2,034 region. This support should prevent the Gold price from declining significantly, keeping it near the $2,020 level, which is now an important point of reference. Conversely, if buying momentum extends beyond the $2,052 region, or the multi-month high recorded earlier this Wednesday, it could pave the way for a challenge to the all-time high of around the $2,079-2,080 zone achieved in May.
⭐️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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The price is still having a slight correction around the 2040 area. waiting for news today
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everyone can wait for the 2030-2032 support zone to set up a BUY Scalping signal
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Bad news for Gold good for Dollar
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The current price increase model is still very stable
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