Gold prices consolidate within the range below the 1,902$ mark during the Asian session. Federal Reserve expectations strengthen the US Dollar and limit the upside. Weaker exposure will support and help limit losses to the safe-haven GOLD .
The daily chart of the GOLD pair shows that the downtrend is still in place. The 2-hour chart shows that the upside is still limited for GOLD . Meanwhile, technical indicators have lost their upward strength and are moving sideways below the moving averages, reflecting the absence of buying power.
Note
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
SELL XAUUSD zone: 1902 - 1905
Stoploss : 1912
Take Profit 1 : 1898 Take Profit 2 : 1893 Take Profit 3 : 1886
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