interest rate cut! most important data end of 2024⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold price (XAU/USD) extends its recovery from the $2,633 level, a one-week low, and gains modest traction during the Asian session on Wednesday. The uptick appears to be driven by repositioning ahead of a key central bank event. However, gains are likely to be limited as traders await the outcome of the crucial two-day FOMC policy meeting later today. The Federal Reserve (Fed) is broadly expected to cut interest rates by 25 basis points and signal a more cautious approach to further rate reductions.
⭐️Personal comments NOVA:
The market will pick up and recover when the FED lowers interest rates later today. But it won't have too much of an impact because most investors won't be too surprised.
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2664 - $2662 SL $2667 scalping
TP1: $2658
TP2: $2652
TP3: $2645
🔥SELL GOLD zone: $2694 - $2696 SL $2702
TP1: $2685
TP2: $2670
TP3: $2660
🔥BUY GOLD zone: $2607 - $2605 SL $2600
TP1: $2618
TP2: $2630
TP3: $2645
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY 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
