Gold price cycle continues !!! XAU down
Updated
✍️ NOVA hello everyone, Let's comment on gold price next week from 11 - 15/9/2023
🔥 World situation:
Towards the conclusion of the week, the XAU/USD experienced mild declines, hovering around $1,918. Silver suffered a significant loss of 5%, while Gold saw a slight decline of nearly 1%, primarily due to increasing US yields, which are raising expectations for potential tightening measures by the Federal Reserve.
This can be attributed to the fact that precious metals are often viewed as an opportunity cost for holding non-yielding metals. On Friday, US Treasury yields continued their upward trend and solidified their weekly gains. The 2-year yields currently stand at 4.99%, with rates of 4.40% and 4.26% for the 5-year and 10-year respectively. Although these rates experienced modest increases during the session, they restricted Gold from making significant advances on that particular day.
Looking ahead to next week, investors eagerly anticipate key economic indicators such as the Consumer Price Index (CPI) and Retail Sales figures from August in order to make informed decisions regarding future actions by the Federal Reserve (Fed). Currently, market expectations point towards a probable increase of 25 basis points (bps) before year-end; however there is uncertainty whether this hike will occur in November or December. Consequently, upcoming data releases in relation to US economic performance will greatly assist investors in refining their projections and shaping their anticipations accordingly.
🔥 Identify:
With last week's PMI results being good for the dollar, US inflation indicators being positive, and a certain optimism in the economy is the main reason why gold prices continue to lose value.
It is predicted that this week with a lot of important news, there will be many big fluctuations, but the downtrend is still the priority.
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $1930, $1950, $1975
Support : $1910, $1885, $1850, Prioritize the downward trend in price
🔥 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
🔥 World situation:
Towards the conclusion of the week, the XAU/USD experienced mild declines, hovering around $1,918. Silver suffered a significant loss of 5%, while Gold saw a slight decline of nearly 1%, primarily due to increasing US yields, which are raising expectations for potential tightening measures by the Federal Reserve.
This can be attributed to the fact that precious metals are often viewed as an opportunity cost for holding non-yielding metals. On Friday, US Treasury yields continued their upward trend and solidified their weekly gains. The 2-year yields currently stand at 4.99%, with rates of 4.40% and 4.26% for the 5-year and 10-year respectively. Although these rates experienced modest increases during the session, they restricted Gold from making significant advances on that particular day.
Looking ahead to next week, investors eagerly anticipate key economic indicators such as the Consumer Price Index (CPI) and Retail Sales figures from August in order to make informed decisions regarding future actions by the Federal Reserve (Fed). Currently, market expectations point towards a probable increase of 25 basis points (bps) before year-end; however there is uncertainty whether this hike will occur in November or December. Consequently, upcoming data releases in relation to US economic performance will greatly assist investors in refining their projections and shaping their anticipations accordingly.
🔥 Identify:
With last week's PMI results being good for the dollar, US inflation indicators being positive, and a certain optimism in the economy is the main reason why gold prices continue to lose value.
It is predicted that this week with a lot of important news, there will be many big fluctuations, but the downtrend is still the priority.
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $1930, $1950, $1975
Support : $1910, $1885, $1850, Prioritize the downward trend in price
🔥 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
At the beginning of the second session, the price is sideways in the beautiful range of 1917 - 1922Note
Scalping today 11/9/2023SELL GOLD 1923,5 - 1925,5 scalping SL 1929
TP: 1920, 1917, 1914
Note
Scalping is not favorable, but the long-term assessment according to the chart is still accurate.+ 40 pips from entry resistance zone 1930
Note
+ 80 pips from entry Sell resistance zone 1930Note
The gold price is correct as expected, currently continuing to return to the sideway around the 1917 - 1925 price range. Wait for this week's news signal to have a clearer trend.Note
Correct the chart trend above, continue to wait for a long-term downtrend + 95 pips, from entry Sell essistance zone
Note
SET UP GOLD PRICE: Today 12/9/2023
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
Note
Missed 5 pips before hitting entry SELL 1925. Still in the right downtrendSideway narrow range waiting for CPI announcement information
Trade active
Exactly the downtrend, the price is having difficulty at the support zone 1905 - 1910, there will be a recovery in this zone.Note
+ 80 pips , from entry Buy 1906 , greatNote
Updated comments today: September 14, 2023
SET UP GOLD PRICE:
SELL GOLD zone: $1918 - $1921 SL $1930
TP1: 1915
TP2: 1910
TP3: 1903
Note
The price moved towards the 1900 support zone, but strong buying pressure pushed the price back to the 1910 zone and continued sideways.Trade active
Gold price assessment today: September 15, 2023:
SET UP GOLD PRICE:
BUY GOLD zone: $1900 - $1903 SL $1890
TP 1: $1907
TP2: $1910
TP3: $1915
BUY GOLD zone: $1892 - $1895 SL $1885
TP1: $1900
TP2: $1904
TP3: $1910
SELL GOLD zone: $1918 - $1921 SL $1930
TP1: 1914
TP2: 1908
TP3: 1900
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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