The bears overwhelm the bulls in early August
Updated
Smart investment, Strong finance
GOLDEN INFORMATION:
The price of gold (XAU/USD) is holding onto slight gains after rebounding from its lowest levels in three weeks. However, the current position of the metal remains uncertain in attracting XAU/USD buyers as it remains below key support levels. Market participants are eagerly awaiting top-tier US employment data, which includes the ADP Employment Change and Nonfarm Payrolls.
Late on Tuesday, Fitch Ratings, a global credit rating agency, downgraded the US credit rating from AAA to AA+. Nevertheless, recent market speculation, particularly from prominent bankers, suggests that this downgrade is expected to have minimal negative impact on US fundamentals. As a result, this has challenged the prevailing risk-off sentiment and encouraged gold buyers.
Personal comments NOVA:
The negative news for gold is forecasted this week to continue, the price may recover a bit to gain enough strength before the DUMP drops sharply.
SET UP GOLD PRICE:
SELL GOLD zone: $1955 - $1958 SL $1968
TP 1: $1940
TP2: $1929
Technical analysis:
Based on technical indicators EMA 34.89 and Fibonaccy indicator have strong resistance entry at $1955 zone.
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:
The price of gold (XAU/USD) is holding onto slight gains after rebounding from its lowest levels in three weeks. However, the current position of the metal remains uncertain in attracting XAU/USD buyers as it remains below key support levels. Market participants are eagerly awaiting top-tier US employment data, which includes the ADP Employment Change and Nonfarm Payrolls.
Late on Tuesday, Fitch Ratings, a global credit rating agency, downgraded the US credit rating from AAA to AA+. Nevertheless, recent market speculation, particularly from prominent bankers, suggests that this downgrade is expected to have minimal negative impact on US fundamentals. As a result, this has challenged the prevailing risk-off sentiment and encouraged gold buyers.
Personal comments NOVA:
The negative news for gold is forecasted this week to continue, the price may recover a bit to gain enough strength before the DUMP drops sharply.
SET UP GOLD PRICE:
SELL GOLD zone: $1955 - $1958 SL $1968
TP 1: $1940
TP2: $1929
Technical analysis:
Based on technical indicators EMA 34.89 and Fibonaccy indicator have strong resistance entry at $1955 zone.
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
The price is approaching the SELL entry zone 55-58Note
gold price hit 54.5 and collapsed. Right on trend NovaNote
The price plummeted to the 1930 area, as stated in the analysis, it's great, SELL 1955Note
If instead of Sell 55, we Sell 54, now we have +200 pips, bad luckNote
Downtrend is still dominant, Gold price may short-term sideway at 1930-1940Note
Update order :BUY XAU zone 1935- 1937 SL 1930
TP : 1943, 1950
Note
+ 25 PIPS FROM ENTRY 1935
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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