Strong increase in Gold - 3rd quarter 2024
Updated
✍️ NOVA hello everyone, Let's comment on gold price next week from 7/8 - 7/12/2024
🔥 World situation:
Gold prices surged during mid-North American trade after June's US Nonfarm Payrolls report surpassed predictions, but hints of a faster cooling labor market from downward revisions of previous months led traders to anticipate a Federal Reserve rate cut in September. This expectation weakened the Greenback and boosted gold. XAU/USD is now trading at $2,391, marking daily gains over 1.40% and weekly gains above 2.70%, partly driven by a weaker US Dollar undermined by lower US Treasury bond yields.
🔥 Identify:
Gold price broke the cumulative sideway structure and rebounded strongly in the third quarter of 2024. While the expectation of interest rate cuts this year is getting closer and closer, it is the factor that helps gold prices stay positive
🔥 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: $2431, $2452, $2480
Support : $2365, $2335
🔥 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:
Gold prices surged during mid-North American trade after June's US Nonfarm Payrolls report surpassed predictions, but hints of a faster cooling labor market from downward revisions of previous months led traders to anticipate a Federal Reserve rate cut in September. This expectation weakened the Greenback and boosted gold. XAU/USD is now trading at $2,391, marking daily gains over 1.40% and weekly gains above 2.70%, partly driven by a weaker US Dollar undermined by lower US Treasury bond yields.
🔥 Identify:
Gold price broke the cumulative sideway structure and rebounded strongly in the third quarter of 2024. While the expectation of interest rate cuts this year is getting closer and closer, it is the factor that helps gold prices stay positive
🔥 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: $2431, $2452, $2480
Support : $2365, $2335
🔥 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
Gold prices are still headed for all-time highs this year
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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