⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices were negatively affected by strong economic releases in August. Despite the previous decline in the labor market, it faced a setback with two impressive reports: the ISM Services PMI and Initial Jobless Claims, both of which exceeded market expectations. As long as the data remains uncertain, market participants should anticipate price consolidation.
Investors are expected to closely monitor the release of the US Consumer Price Index (CPI) data for August, as it holds significant importance leading up to the September monetary policy meeting of the US Federal Reserve (Fed).
⭐️Personal comments NOVA:
Gold prices are trying to return to the 1930 resistance zone before the CPI news released on Wednesday. There is a very high possibility that the downtrend of gold prices will continue this week.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $1906 - $1903 SL $1895
TP 1: $1909
TP2: $1912
TP3: $1917
🔥SELL GOLD zone: $1932 - $1935 SL $1945
TP1: 1928
TP2: 1925
TP3: 1920
🔥SELL GOLD zone: $1925 - $1927 SL $1931( SCALPING)
TP1: 1922
TP2: 1919
TP3: 1915
⭐️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