Bulls dominate, close to 1990
Updated
Smart investment, Strong finance
GOLDEN INFORMATION:
Gold price is benefitting from a slight weakening of the US Dollar. Despite a recent recovery, the US Dollar is retreating from a one-week high reached on Wednesday. This is providing some support for the Gold price, which is denominated in US Dollars. The market is now expecting fewer interest rate hikes by the Federal Reserve after a 25 basis points increase in July, due to a decrease in inflationary pressures. Investors believe that the Fed is close to ending its current policy tightening, which has led to a significant drop in US Treasury bond yields and is negatively impacting the US Dollar.
Personal comments NOVA:
The bad news for the USD directly influenced the gold price to increase to the highest level in the past few weeks. The price is moving towards the 1990 resistance area, if the bad news for the dollar continues, the price may surpass 2000 in the following week.
SET UP GOLD PRICE:
SELL GOLD zone: $1990 - $1992 SL $2000
TP 1: $1982
TP2: $1970
Technical analysis:
Based on the RSI indicator, the divergence plus overbought signal has appeared, although not much, it is still possible to set up a short-term 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
GOLDEN INFORMATION:
Gold price is benefitting from a slight weakening of the US Dollar. Despite a recent recovery, the US Dollar is retreating from a one-week high reached on Wednesday. This is providing some support for the Gold price, which is denominated in US Dollars. The market is now expecting fewer interest rate hikes by the Federal Reserve after a 25 basis points increase in July, due to a decrease in inflationary pressures. Investors believe that the Fed is close to ending its current policy tightening, which has led to a significant drop in US Treasury bond yields and is negatively impacting the US Dollar.
Personal comments NOVA:
The bad news for the USD directly influenced the gold price to increase to the highest level in the past few weeks. The price is moving towards the 1990 resistance area, if the bad news for the dollar continues, the price may surpass 2000 in the following week.
SET UP GOLD PRICE:
SELL GOLD zone: $1990 - $1992 SL $2000
TP 1: $1982
TP2: $1970
Technical analysis:
Based on the RSI indicator, the divergence plus overbought signal has appeared, although not much, it is still possible to set up a short-term 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
Note
Unemployment news tonight predicts gold can still rise. Everyone, please install SL to protect your accountNote
Gold price consolidates as investors shift focus toward Fed policy. Investors should pay attention to this informationNote
exact downtrend
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.