Gold prices continue to fall, DOWN
Updated
Smart investment, Strong finance
GOLDEN INFORMATION:
After reaching its lowest point since July 7th, the price of gold is showing a modest recovery around the $1,911-$1,910 range during Friday's Asian session. It appears that the four-day losing streak has been halted for now. Currently, XAU/USD is trading in the $1,915-$1,916 region with a modest increase of over 0.10% for the day. However, there is still a lack of strong bullish sentiment and vulnerability remains.
The US Dollar (USD) is struggling to take advantage of its overnight rebound from a one-week low triggered by weaker consumer inflation data in the United States (USD). As a result, it retreats from near monthly highs. The decline in USD strength plays a significant role in directing investors towards gold priced in US Dollars. On the other hand, there isn't any clear fundamental catalyst driving this downtick in USD and it's expected to remain limited due to increasing acceptance that the Federal Reserve (Fed) will maintain its hawkish stance.
Personal comments NOVA:
Gold price continued to plunge after yesterday's CPI news according to many previous predictions, there is still no optimism for gold this week, the price may continue to reach the 1900 zone.
SET UP GOLD PRICE:
SELL GOLD zone: $1927 - $1930 SL $1940
TP 1: $1915
TP2: $1903
BUY GOLD zone: $1903 - $1906 SL $1895
TP1: $1910
TP2: $1915
Technical analysis:
The recovery of Gold prices needs to surpass the significant level of $1,930, where the downward sloping EMA 89 line sits at $1,941 as a crucial obstacle.
Furthermore, closing daily below the primary support level at $1910 will pose a significant challenge at $1900.
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:
After reaching its lowest point since July 7th, the price of gold is showing a modest recovery around the $1,911-$1,910 range during Friday's Asian session. It appears that the four-day losing streak has been halted for now. Currently, XAU/USD is trading in the $1,915-$1,916 region with a modest increase of over 0.10% for the day. However, there is still a lack of strong bullish sentiment and vulnerability remains.
The US Dollar (USD) is struggling to take advantage of its overnight rebound from a one-week low triggered by weaker consumer inflation data in the United States (USD). As a result, it retreats from near monthly highs. The decline in USD strength plays a significant role in directing investors towards gold priced in US Dollars. On the other hand, there isn't any clear fundamental catalyst driving this downtick in USD and it's expected to remain limited due to increasing acceptance that the Federal Reserve (Fed) will maintain its hawkish stance.
Personal comments NOVA:
Gold price continued to plunge after yesterday's CPI news according to many previous predictions, there is still no optimism for gold this week, the price may continue to reach the 1900 zone.
SET UP GOLD PRICE:
SELL GOLD zone: $1927 - $1930 SL $1940
TP 1: $1915
TP2: $1903
BUY GOLD zone: $1903 - $1906 SL $1895
TP1: $1910
TP2: $1915
Technical analysis:
The recovery of Gold prices needs to surpass the significant level of $1,930, where the downward sloping EMA 89 line sits at $1,941 as a crucial obstacle.
Furthermore, closing daily below the primary support level at $1910 will pose a significant challenge at $1900.
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 showing slight signs of recovery, but the downtrend is still main when the news is released today
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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