In early August, the sideway price zone was safe
Updated
✍️ NOVA hello everyone, Let's comment on gold price next week from 4-8/9/2023
🔥 World situation:
Towards the end of the week, the price of gold (XAU/USD) gave up its daily gains and retreated to around $1,940. Despite a temporary retreat, US yields recovered during the American session. However, gold is still on track to have a winning week with gains of over 1%.
The highly anticipated US Nonfarm Payrolls report for August showed mixed results. On a positive note, the number of new jobs created (NFPs) increased to 187,000, surpassing expectations of 170,000 and exceeding the previous figure of 157,000. Average Hourly Earnings had moderate growth at 0.2% month-on-month (MoM), falling slightly short of expectations at 0.3%. Unemployment also rose in August to reach 3.8%, contrary to forecasts.
In terms of economic activity in the United States, figures from the Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI) surpassed consensus estimates in August with an actual reading of 47.6 compared to an expected figure of 47 and a previous reading of 46.4.
US bond yields are often viewed as an opportunity cost for holding gold and experienced volatility following these employment and economic activity reports. The yield on two-year bonds dropped to its lowest level in three weeks at around 4.76% before settling at approximately 4.85%. Similarly, five-year and ten-year yields reached their lowest point since August10th before stabilizing.
🔥 Identify:
This week with important news that has little impact on gold prices, the price will follow market psychology to determine the trend.
Important parameters on US inflation are gradually becoming positive, positive motivation for the dollar. Still according to long-term comments in September, gold prices will fall back to the 1880 area
🔥 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: $1945, $1972, $2000
Support : $1923, $1905, $1880
Gold price in the first week may not have big changes, it may fluctuate around 1925-1950
🔥 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:
Towards the end of the week, the price of gold (XAU/USD) gave up its daily gains and retreated to around $1,940. Despite a temporary retreat, US yields recovered during the American session. However, gold is still on track to have a winning week with gains of over 1%.
The highly anticipated US Nonfarm Payrolls report for August showed mixed results. On a positive note, the number of new jobs created (NFPs) increased to 187,000, surpassing expectations of 170,000 and exceeding the previous figure of 157,000. Average Hourly Earnings had moderate growth at 0.2% month-on-month (MoM), falling slightly short of expectations at 0.3%. Unemployment also rose in August to reach 3.8%, contrary to forecasts.
In terms of economic activity in the United States, figures from the Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI) surpassed consensus estimates in August with an actual reading of 47.6 compared to an expected figure of 47 and a previous reading of 46.4.
US bond yields are often viewed as an opportunity cost for holding gold and experienced volatility following these employment and economic activity reports. The yield on two-year bonds dropped to its lowest level in three weeks at around 4.76% before settling at approximately 4.85%. Similarly, five-year and ten-year yields reached their lowest point since August10th before stabilizing.
🔥 Identify:
This week with important news that has little impact on gold prices, the price will follow market psychology to determine the trend.
Important parameters on US inflation are gradually becoming positive, positive motivation for the dollar. Still according to long-term comments in September, gold prices will fall back to the 1880 area
🔥 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: $1945, $1972, $2000
Support : $1923, $1905, $1880
Gold price in the first week may not have big changes, it may fluctuate around 1925-1950
🔥 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
At the beginning of the Monday session, the price will mostly sideway with a low range $1935-$1945
Note
Scalping morning Monday Sell 1944- 1947 SL 1952
TP: 1940, 1935, 1922
Note
+ 30 pips , now. from entry 1946.6Note
+ 45 pips , from entry 1946,6Note
+ 65 pips , Complete TP from entry SELL 1946Note
+ 85 pips , wonderfull from entry SELL 1946Trade active
US markets will remain closed on Monday on account of the Labor Day holiday, so a lackluster performance is widely anticipated due to thin trading conditions. Going forward, investors hope that both price and the US Dollar can deliver gains as strength in the US Dollar would shift from the Fed’s tight policy to the vulnerable economic outlook of other G7 economies.Note
Absolutely accurate trend on the first day of the week. Prices have dropped back to 1939. With little impact on this week's news, prices could continue to fall today.Note
SELL GOLD zone: $1944 - $1947 SL $1952
TP1: 1940
TP2: 1936
TP3: 1930
Note
100% trend accuracy, DOWNTREND trend+ 140 pips , from entry SELL 1946
Note
+ 200 pips , sell 1946 optopTrade active
Still following the initial assessment, the price returns to the 192x area and meets support in this area, which will lead to a short-term increase.Set up Price:
BUY GOLD zone: 1922-1925 SL 1917
TP: 1929, 1932, 1935
Note
+ 20 pips, from entry BUY 1924.5, nowNote
+ 35 pips , from entry BUY 1924,5 , greatTrade active
SET UP GOLD PRICE:
BUY GOLD zone: $1922 - $1925 SL $1915
TP 1: $1928
TP2: $1931
TP3: $1935
SELL GOLD zone: $1934 - $1937 SL $1945
TP1: 1930
TP2: 1922
TP3: 1915
Note
+ 50 pips , from entry BUY 1922,7Trade active
A strong downtrend from the beginning of the week. Prices rebounded from the 1922-1925 support zone and continued the downtrend.Set up BUY Gold 1913-1916 SL 1907
TP : 1920, 1925,1930
Note
+ 50 pips , great From entry Buy 1915
Trade active
NOVA comment today: September 7, 2023
SET UP GOLD PRICE:
SELL GOLD zone: $1927 - $1930 SL $1940
TP1: 1923
TP2: 1920
TP3: 1913
Note
The market fluctuates low around the 1915-1920 price range, the price is waiting to fluctuate when Unemployment Claims news is announced.Trade active
Sell gold : 1922- 1925 SL 1930 scalping Tp: 1918, 1915, 1912
Note
+ 20 pips , from entry SELL 1927.3 nowNote
+ 35 pips , form entry 1927,3 now , wonderfullNote
+ 80 pips from entry Sell 1929,6 now, congratulation everyoneNote
Assessing gold price trends: September 11-15, 2023
Resistance: $1930, $1950, $1975
Support : $1910, $1885, $1850, Prioritize the downward trend in price
Note
During the early trading hours in the Asian session on Monday, the price of gold is hovering around $1,920 per troy ounce. The precious metal is facing difficulty maintaining its position near last week's closing price, as it receives minor support from the weakening US Dollar (USD).The US Dollar Index (DXY), which gauges the performance of the Greenback against six other major currencies, is currently trading at approximately 104.80, slightly below its highest point since April. However, there has been an increase in US Treasury yields, which may put pressure on the price of gold. The yields on 10-year US Treasury bonds have risen to 4.29%, a rise of 0.52%.
Note
Price has touched the 1930 resistance zone as noted, the downtrend is activeNote
+ 40 pips, from entry SELL 1930 resistance zoneNote
+ 85 pips , from entry SELL 1930 resistance zoneNote
Gold price September 12, 2023: Continue sideways around the 1915 - 1925 price range, waiting for a clear breakthrough when tomorrow's CPI news is announcedstill favors the downtrend
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
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.