Solana is ready to shorttttSeplana is ready to start its fall, what do you think??
Be sure to keep an eye on Solana for shorts
Sellzone
Danger Danger!!!Dominance Tether is ready to grow again, ready to blood the market again. Be careful with your transactions.
XAU in bearish range - holding below 2420⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) is facing selling pressure for the fourth consecutive day on Wednesday, but it maintains a position above the weekly low. Recent sharp losses and signs of stability in global equity markets are affecting the appeal of gold as a safe haven. Additionally, slight strength in the US Dollar (USD) is putting more pressure on gold.
However, expectations for significant interest rate cuts by the Federal Reserve (Fed), coupled with ongoing recession concerns in the US, may prevent substantial gains for the Dollar. Moreover, worries about an economic slowdown in China and potential geopolitical tensions in the Middle East should continue to support gold prices and reduce the risk of further declines.
⭐️ Personal comments NOVA:
Gold price within range decreases H1 - sideway zone waiting for market stabilization within range 2370 - 2420
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2351 - $2353 SL $2346
TP1: $2365
TP2: $2378
TP3: $2385
🔥SELL GOLD zone: $2419 - $2421 SL $2426
TP1: $2410
TP2: $2400
TP3: $2390
⭐️ 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
Markets fear recession - XAU falls⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold prices (XAU/USD) hit a one-week low on Monday, but managed to defend and bounce back from the 50-day Simple Moving Average (SMA) support around the $2,365-2,364 area. Softer incoming US macro data heightened concerns about a potential downturn in the world’s largest economy and increased expectations for more significant interest rate cuts by the Federal Reserve (Fed). This situation led to a recent decline in US Treasury bond yields, which, together with the escalating Middle East crisis, provides some support to the safe-haven precious metal.
However, a shift in risk sentiment, indicated by a relief rally in the equity markets, could pose a challenge for gold prices amid recovering US bond yields, which support the US Dollar (USD). Nonetheless, the overall fundamental backdrop seems to favor bullish traders, suggesting that the path of least resistance for XAU/USD is upward. Therefore, weakness below the $2,400 mark might continue to attract buyers and remain limited in the absence of significant US economic data releases.
⭐️ Personal comments NOVA:
The financial downturn on Monday, due to concerns about the US economic recession, caused the price of Gold to fall sharply, and there was still selling pressure from the bears when there was not much important economic news today.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2373 - $2375 SL $2368
TP1: $2382
TP2: $2390
TP3: $2400
🔥BUY GOLD zone: $2386 - $2384 SL $2380
TP1: $2392
TP2: $2400
TP3: $2410
🔥SELL GOLD zone: $2428 - $2430 SL $2435
TP1: $2420
TP2: $2410
TP3: $2390
⭐️ 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
XAU recovers - retests the DOWN trend⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The cost of gold (XAU/USD) continues to rise from the overnight rebound near a one-week low, drawing additional buyers for the second consecutive day on Wednesday. This increase is supported by a weaker market sentiment, which typically favors conventional safe-haven assets, pushing the precious metal to a new weekly peak around the $2,415 mark during the Asian trading hours. Additionally, expectations that the Federal Reserve (Fed) will begin reducing interest rates in September further encourage investment in the non-interest-bearing gold.
⭐️ Personal comments NOVA:
Recovery from Gold around 2420-2430, retest for more downside
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2385 - $2383 SL $2378
TP1: $2390
TP2: $2395
TP3: $2400
🔥SELL GOLD zone: $2432 - $2434 SL $2439
TP1: $2425
TP2: $2410
TP3: $2390
⭐️ 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
$2400 price zone is important support for Gold⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) finds it hard to build on its early Asian session gains on Tuesday, though it manages to stay above a one-week plus low hit on Monday. President Biden's decision not to run in 2024 boosts Trump's chances, sparking hopes for less strict regulations. This, combined with surprise rate cuts by China's central bank on Monday, fuels a broadly upbeat market mood, which weighs on the safe-haven metal. The positive risk sentiment acts as a headwind for the precious metal's appeal as a refuge asset.
⭐️ Personal comments NOVA:
Gold price is in a downward correction - sideways accumulation around the 2400 area. Wait for inflation data this week
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2384 - $2386 SL $2378
TP1: $2392
TP2: $2400
TP3: $2410
🔥SELL GOLD zone: $2431 - $2433 SL $2438
TP1: $2422
TP2: $2410
TP3: $2400
⭐️ 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
XAU/USD struggles to hold above $2400⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) gains some positive traction during the Asian session on Monday and for now, seems to have snapped a three-day losing streak to sub-$2,400 levels, or a one-week low touched on Friday. The US political development over the weekend prompts fresh selling around the US Dollar (USD), which, along with bets for an imminent start of the Federal Reserve's (Fed) rate-cutting cycle in September, benefits the precious metal.
Apart from this, worries about slowing Chinese economic growth, geopolitical risks stemming from the protracted Russia-Ukraine war and the ongoing conflicts in the Middle East turn out to be another factor lending support to the safe-haven Gold price. The USD, however, lacks follow-through selling as investors await more cues about the Fed's policy path, which, in turn, will determine the next leg of a direcitonal move for the non-yielding yellow metal.
⭐️ Personal comments NOVA:
Gold price had a short recovery above the $2400 area at the beginning of Monday week - sideways accumulation around this support area
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2392 - $2390 SL $2385
TP1: $2398
TP2: $2405
TP3: $2410
🔥SELL GOLD zone: $2419 - $2421 SL $2426
TP1: $2410
TP2: $2400
TP3: $2390
⭐️ 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
Analysis of AUDCAD: Bearish Structure and Trading OpportunityOn the daily timeframe, AUDCAD has established an OHLC (Open High Low Close) pattern indicative of a bearish structure. This setup is further validated by the Traders Dynamic Index (TDI) crossover, confirming a sell opportunity. The target for this trade is set at 0.91519 . Please proceed with caution. If you find this analysis helpful, consider supporting by liking, sharing, and following my page.
USDJPY Opportunities for Both Bears and BullsHere’s an exciting update on USDJPY, which has something for both short-sellers and those looking to buy. Let’s dive in!
Current Overview:
- 4-Hourly Chart:
- There’s a sell zone, but the overall movement of USDJPY is on a bullish ride. :chart_with_upwards_trend:
Shorting Opportunity:
- Key Level: 157.69
- What to Do: If you’re looking to short, watch for a Magic Candle Confirmation within the sell zone (red box). The ideal entry would be at 157.69.
Buying Opportunity:
- Key Pattern: Potential Head and Shoulders Formation
- Key Level: 157.69
- What to Do: Like me, if you’re waiting to buy, this is the level to watch. Wait for a Magic Candle Confirmation at 157.69 to enter a long position, betting on a Potential Head and Shoulders Formation.
Final Thoughts:
Whether you’re looking to short or buy, the key is patience and waiting for confirmation. Trading is all about making informed decisions and managing risk effectively.
What’s your plan for USDJPY? Are you in the short camp or the long camp? Share your thoughts and strategies below!
Happy trading, everyone!
CAD / CHF !! trendline - SELL NOW⭐️ Smart investment, Strong finance
⭐️ Personal comments NOVA:
Trendline H1 formed - there was not much important data at the beginning of the week. DOWN trend - bears prevail
⭐️ SET UP CAD/CHF PRICE:
🔥SELL zone: 0.65550 - 0.65750 SL 0.66000
TP1: 0.65200
TP2: 0.64900
TP3: 0.64600
⭐️ 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
Accumulation price zone - XAU continues to trade below 2350⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) trades lower despite weaker USD. Stronger US PMI delayed interest rate cut, limiting gold's upside. However, safe-haven flows from geopolitical tensions in the Middle East and Ukraine may boost gold in the near term.
Investors will closely watch the speeches of Fed members Lisa Cook and Michelle Bowman on Tuesday. Key economic data to pay attention to this week includes the final Q1 US GDP reading on Thursday and the May PCE Price Index on Friday. If there are signs of declining inflation, it could lead to expectations of Fed rate cuts in 2024, potentially weakening the US dollar and benefiting USD-denominated Gold.
⭐️ Personal comments NOVA:
Gold price continues to maintain the price range below 2350 - 2300 today, a cumulative sideway price range.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2302 - $2300 SL $2295
TP1: $2310
TP2: $2320
TP3: $2330
🔥SELL GOLD zone: $2341 - $2343 SL $2348
TP1: $2335
TP2: $2328
TP3: $2320
⭐️ 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
EURUSD Sideways Consolidation with Key Levels for TradingTimeframe : Weekly and 1-Hourly Charts
Predicted Move: Sideways Consolidation with Specific Levels for Trading Opportunities
Analysis :
On the weekly chart, EURUSD is in a sideways consolidation phase and is currently at the bottom of this range. For precise entry points, I'll be closely monitoring the 1-hourly chart.
Key Points:
- Sideways Consolidation : EURUSD is consolidating within a defined range on the weekly chart.
- Bottom of Range : Price is at the lower boundary of the consolidation, suggesting potential buying opportunities.
Key Levels on 1-Hourly Chart:
- Shorting Opportunity : 1.0739 is my preferred level for considering short positions.
- Buying Opportunity : 1.0668 is my preferred level for considering long positions.
Strategy:
- Monitor Key Levels : Watch the price action around 1.0739 for shorting and 1.0668 for buying opportunities.
- Confirmation : Look for confirmation signals on the 1-hourly chart before entering trades.
Discussion:
Potential for Parity: The question of whether EURUSD might hit parity again is intriguing. While the current consolidation phase doesn't indicate an immediate move to parity, significant macroeconomic events or shifts in market sentiment could drive the pair towards parity. It’s essential to stay updated on fundamental factors and market news that could impact EURUSD.
Note: This analysis is based on my trading experience. Always conduct your own research and analysis before making any trading decisions.
What’s your take on EURUSD? Do you see the potential for it to hit parity again? Share your thoughts!
Gold price is stable below the $2350 zone⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) dropped at the start of the week due to the Federal Reserve's surprising hawkish stance. The Fed lowered its rate cut forecast from three to one, resulting in higher US Treasury bond yields and a stronger US Dollar (USD). This caused investors to move away from gold, which doesn't offer yield.
⭐️ Personal comments NOVA:
Gold price sideway, cumulative price range, around $2300 - $2350
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2307 - $2305 SL $2300
TP1: $2315
TP2: $2322
TP3: $2330
🔥SELL GOLD zone: $2340 - $2342 SL $2347
TP1: $2330
TP2: $2320
TP3: $2310
⭐️ 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
Sideway price zone - accumulation for Gold✍️ NOVA hello everyone, Let's comment on gold price next week from 6/17 - 6/21/2024
🔥 World situation:
Gold's price surged during the North American session on Friday due to increased hopes of the Federal Reserve cutting interest rates later this year. The rise in inflation data in the United States contributed to this sentiment. Additionally, political uncertainty in Europe led to risk aversion and a flight to safety, which boosted the value of gold.
The XAU/USD is currently trading at $2,333, representing a gain of more than 1.30% after rebounding from daily lows of $2,301. Despite lingering pessimism, US equities saw some recovery in the last hour of trading, with the Nasdaq up 0.28%. The S&P 500 also trimmed its earlier losses and is nearly flat on the day at -0.10%.
🔥 Identify:
Gold price continues to be stuck in two trendline boundaries, the large disputed price range is 2300 - 2357. Temporarily, the price continues to sideways and accumulates next week.
🔥 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: $2357, $2388, $2440
Support : $2306, $2278, $2230
🔥 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
Continuing DOWN trend !! XAU decrease⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold prices (XAU/USD) rose for the third consecutive day, reaching a weekly high of around $2,341-2,342 due to weaker US consumer inflation figures. However, the momentum slowed down near the 50-day Simple Moving Average (SMA) resistance after the Federal Reserve's unexpected hawkish stance. The Fed now expects only one rate cut in 2024, compared to the three previously projected in March. This is likely to put further downward pressure on gold during Thursday's Asian session.
⭐️ Personal comments NOVA:
Gold price shows that selling pressure is dominating in the short-term H1 session. The economic data this week is not enough to help the price of Gold increase - the most important thing is still the information that the FED's interest rates will be kept unchanged, causing the price of Gold to continue to decline.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2280
TP2: $2290
TP3: $2300
🔥SELL GOLD zone: $2319 - $2321 SL $2326
TP1: $2310
TP2: $2300
TP3: $2290
⭐️ 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
CPI and FOMC determine Gold price trend⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) is showing resilience below the $2,300 mark, with modest gains for the second consecutive day. Traders are eagerly awaiting the release of US consumer inflation figures and the outcome of the FOMC meeting, as these will provide insights into when the Fed will start cutting interest rates. This will have a significant impact on the future movement of gold.
⭐️ Personal comments NOVA:
Gold price recovered slightly before today's CPI and FOMC news. With the high possibility that interest rate data will continue to remain unchanged, Gold prices are likely to still recover. Pay attention to resistance areas for prices to react at $2325, $2340.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2280
TP2: $2290
TP3: $2300
🔥SELL GOLD zone: $2323 - $2325 SL $2328 scalping
TP1: $2318
TP2: $2310
TP3: $2300
🔥SELL GOLD zone: $2338 - $2340 SL $2345
TP1: $2325
TP2: $2315
TP3: $2300
⭐️ 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
recovery to the DOWN trend ! retest XAU ⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) fell during the Asian session on Tuesday due to a fresh supply. This decline comes after a slight recovery from a one-month low caused by positive US jobs data. The decrease in bets for an interest rate cut by the Federal Reserve (Fed) in September has kept US Treasury bond yields high, strengthening the US Dollar (USD) and reducing demand for gold. Additionally, the People's Bank of China (PBoC) has significantly decreased its gold buying activities in May, ending a year-long buying spree. Despite this, political uncertainty in Europe and geopolitical risks could prevent further losses. Traders are advised to monitor the release of the latest US consumer inflation figures and the FOMC decision on Wednesday.
⭐️ Personal comments NOVA:
Short-term recovery at the beginning of the week - retesting the resistance zone. Sideway waiting for important FOMC information
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2278
TP2: $2284
TP3: $2292
🔥SELL GOLD zone: $2320 - $2322 SL $2325 scalping
TP1: $2315
TP2: $2308
TP3: $2300
🔥SELL GOLD zone: $2338 - $2340 SL $2345
TP1: $2330
TP2: $2320
TP3: $2310
⭐️ 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
Will there be a short-term recovery in Gold?⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The People's Bank of China (PBoC) stopped buying gold in May, after 18 months of continuous purchases. This has weakened the price of gold. However, there is some support for the safe-haven XAU/USD due to a cautious market mood. Traders are hesitant to make aggressive bets before important US data and central bank events this week, such as the release of consumer inflation figures and the outcome of the FOMC policy meeting on Wednesday. Therefore, caution is advised before expecting further losses.
⭐️ Personal comments NOVA:
Gold price suffered a lot of bad news and broke many support zones. The downtrend and investors' psychology will cause the price to continue DOWN
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2280
TP2: $2290
TP3: $2300
🔥SELL GOLD zone: $2320 - $2322 SL $2325 SCALPING
TP1: $2315
TP2: $2307
TP3: $2300
🔥SELL GOLD zone: $2338 - $2340 SL $2345
TP1: $2330
TP2: $2315
TP3: $2300
⭐️ 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
Bad news coming to Gold - price DOWN✍️ NOVA hello everyone, Let's comment on gold price next week from 6/10 - 6/14/2024
🔥 World situation:
Gold prices dropped to a four-week low due to strong US labor market and China's halt in gold purchases. XAU/USD traded at $2,295, resulting in a more than 3% decrease. The latest US Nonfarm Payrolls report showed an increase in workforce but also an uptick in the Unemployment Rate and slight rise in Average Hourly Earnings.
🔥 Identify:
Gold prices had a sudden drop at the weekend, negative news that China's central bank stopped gold reserves brought negative psychology to investors. Currently, the price is breaking through many support zones, so priority will be given to the DOWN trend
🔥 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: $2335, $2371
Support : $2278, $2260, $2210
🔥 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
ADP - NF has a negative impact on Gold?⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) came under renewed selling pressure on Tuesday and dropped to the $2,316-2,315 area, back closer to a multi-week low touched the previous day in the wake of a modest US Dollar (USD) strength. The attempted USD recovery from over a two-month low, however, lacked follow-through on the back of growing acceptance that the Federal Reserve (Fed) will start cutting interest rates later this year, bolstered by softer US macro data. The expectations keep the US Treasury bond yields depressed, which, in turn, is seen benefitting the non-yielding yellow metal during the Asian session on Wednesday.
⭐️ Personal comments NOVA:
Gold price continues to dispute the price range 2320-2340, still moving within the 2 H1 trend lines. Wait for BREAK points for upcoming trends
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2305 - $2307 SL $2300
TP1: $2312
TP2: $2320
TP3: $2330
🔥SELL GOLD zone: $2348 - $2350 SL $2355
TP1: $2340
TP2: $2330
TP3: $2320
⭐️ 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
USDJPY - 2nd chance sharing opportunityI believe the BOJ conducted its second FX intervention yesterday. As the market retested the sell zone, I shorted this pair and placed Stops at 156.82, which is a good 58 pips of initial risk.
Once the market reaches 155.78, I'll shift my stops to the entry-level. This would prevent any losses incurred by hectic volatile movement.
If all goes well, my 1st target would be at 154.85 and I'll keep my second target open.
What are your thoughts on this?
The DOWN trend prevailed at the beginning of the week⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The Gold price (XAU/USD) struggles in the Asian session due to conflicting factors and stays near a three-week low. The expectation of rate cuts by the Federal Reserve and easing inflationary pressures weaken the US Dollar, supporting gold as a safe-haven asset. However, positive market sentiment and hopes for a cease-fire in Gaza limit the upside for gold. Traders are waiting for important US macro data, including the Nonfarm Payrolls report, and central bank decisions from the Bank of Canada and the European Central Bank.
⭐️ Personal comments NOVA:
The selling pressure at the beginning of the week is still maintained - the DOWN trend is dominant, waiting for support areas for Gold
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2306 - $2304 SL $2299
TP1: $2312
TP2: $2320
TP3: $2330
🔥SELL GOLD zone: $2340 - $2342 SL $2347
TP1: $2332
TP2: $2327
TP3: $2320
⭐️ 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
Huge selling pressure - Gold price continues to DECREASE✍️ NOVA hello everyone, Let's comment on gold price next week from 6/3 - 6/7/2024
🔥 World situation:
Gold (XAU/USD) slumped back into the $2,330s on Friday after the release of US Personal Consumption Expenditure (PCE) data for April. The data showed a decrease in core price pressures, with Core PCE cooling to 0.2% month-over-month. Analysts had expected it to remain unchanged at 0.3%. This unexpected decrease increased the likelihood of the Fed cutting interest rates sooner, which is positive for Gold as it reduces the opportunity cost of holding the non-yielding asset.
🔥 Identify:
Despite receiving positive economic news supporting Gold - the great selling pressure pushed Gold prices down immediately. Wait for the next support and decline areas next week
🔥 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: $2362, $2414
Support : $2306, $2282, $2250
🔥 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
