September , XAU/USD price correction , ZONE 2500
Updated
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) continued to drop on Monday, falling below the $2,500 mark as a stronger US Dollar, following July's Personal Consumption Expenditures (PCE) Index, pressured the metal. Additionally, concerns over China's sluggish economy, the world’s largest gold buyer, added to the decline.
However, expectations of an interest rate cut by the US Federal Reserve (Fed) in September could help limit Gold’s losses, as lower rates reduce the opportunity cost of holding non-yielding assets like gold. Looking ahead, key US economic data are due this week, including the ISM Manufacturing PMI on Tuesday, the Services PMI on Thursday, and employment data on Friday, which includes Nonfarm Payrolls (NFP), the Unemployment Rate, and Average Hourly Earnings for August.
⭐️Personal comments NOVA:
Gold price has a slight decrease adjustment in early September 2024, but is still within the sideway price range of 2480 - 2530, accumulating for the Uptrend.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2483 - $2485 SL $2478
TP1: $2492
TP2: $2500
TP3: $2510
🔥SELL GOLD zone: $2509 - $2511 SL $2516
TP1: $2500
TP2: $2490
TP3: $2482
⭐️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
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) continued to drop on Monday, falling below the $2,500 mark as a stronger US Dollar, following July's Personal Consumption Expenditures (PCE) Index, pressured the metal. Additionally, concerns over China's sluggish economy, the world’s largest gold buyer, added to the decline.
However, expectations of an interest rate cut by the US Federal Reserve (Fed) in September could help limit Gold’s losses, as lower rates reduce the opportunity cost of holding non-yielding assets like gold. Looking ahead, key US economic data are due this week, including the ISM Manufacturing PMI on Tuesday, the Services PMI on Thursday, and employment data on Friday, which includes Nonfarm Payrolls (NFP), the Unemployment Rate, and Average Hourly Earnings for August.
⭐️Personal comments NOVA:
Gold price has a slight decrease adjustment in early September 2024, but is still within the sideway price range of 2480 - 2530, accumulating for the Uptrend.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2483 - $2485 SL $2478
TP1: $2492
TP2: $2500
TP3: $2510
🔥SELL GOLD zone: $2509 - $2511 SL $2516
TP1: $2500
TP2: $2490
TP3: $2482
⭐️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
Trade active
Gold price sideways around below 2500 during the Asian session, MondayTrade active
Gold price is returning to the nearest RESISTANCE area at 2510Trade active
The US session has not yet witnessed fluctuations in Gold prices, continuing sideway zone 2500, a price area with large trading volume for buyers and sellers.Trade active
Gold fluctuates at around $2,500 to start the week. The longer you accumulate, the future gold price will have big changesTrade active
Gold price decreased slightly below 2500, starting the Asian session Tuesday morning
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
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