Hello everyone, Nova is always here to give personal comments for everyone to refer to
Investor caution is putting pressure on the price of gold (XAU/USD), prior to the release of the United States Consumer Price Index (CPI) data for August. The increase in gasoline prices suggests that inflation may have risen at a faster rate, leading to concerns and potentially increasing demand for the US Dollar. As a result, gold is becoming more vulnerable in this market environment.
The downward trend in price is still according to NOVA's comments at the beginning of the week, selling pressure may be hindered by the 1900 support zone.
SET UP gold price:
BUY GOLD : 1902-1905 SL 1895
TP1: 1908
TP2: 1912
TP3: 1915
Based on the head and shoulders candlestick pattern, along with resistance and support zones to have a safe BUY entry area