⭐️GOLDEN INFORMATION: Gold price (XAU/USD) fell after a three-day winning streak due to the Greenback's slight recovery and hawkish comments from Federal Reserve officials. Strong US economic data also reduced expectations of a Fed rate cut in September, boosting the US Dollar and weighing on gold prices. However, geopolitical tensions and uncertainty may still drive demand for gold as a safe-haven asset. Central bank demand will continue to support higher gold prices in the short term. Traders are watching the Fed's Beige Book and John Williams' speech, as well as the release of the US Core PCE Price Index on Friday, which could impact the possibility of delaying a Fed rate cut if inflation shows signs of increasing.
⭐️Personal comments NOVA: Gold price recovered in the short term - however, the long-term frame H1 and H4 are showing a larger DOWN trend
⭐️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
Comment
Gold prices did not change much on Wednesday morning. Now move zone 2360
Comment
Gold price decreased as predicted by PLAN DAY
Comment
Gold price reacts at support area 2340, currently waiting sideways for the US session
Comment
Gold price increased during the US session back to the 2350 area
Comment
The Downtrend is still dominating during the sideways process at the beginning of the week
Comment
Wait for tomorrow's GDP data to have a clear direction for Gold
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.