⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) rose for the third consecutive day, reaching a weekly high of around $2,341-2,342 due to weaker US consumer inflation figures. However, the momentum slowed down near the 50-day Simple Moving Average (SMA) resistance after the Federal Reserve's unexpected hawkish stance. The Fed now expects only one rate cut in 2024, compared to the three previously projected in March. This is likely to put further downward pressure on gold during Thursday's Asian session.
⭐️Personal comments NOVA:
Gold price shows that selling pressure is dominating in the short-term H1 session. The economic data this week is not enough to help the price of Gold increase - the most important thing is still the information that the FED's interest rates will be kept unchanged, causing the price of Gold to continue to decline.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2280
TP2: $2290
TP3: $2300
🔥SELL GOLD zone: $2319 - $2321 SL $2326
TP1: $2310
TP2: $2300
TP3: $2290
⭐️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