Gold is 99 percent accurate signal
Smart investment, Strong finance
GOLDEN INFORMATION:
Gold price (XAU/USD) extends its decline for the fifth consecutive session, hitting its lowest level since September 19 near $2,558 during Thursday’s Asian session. Persistent US Dollar (USD) strength, fueled by optimism over President-elect Donald Trump's pro-growth policies and expectations of a Federal Reserve (Fed) pause in easing, keeps pressure on the non-yielding metal. Elevated US Treasury yields and a strong USD, which reached its highest level since November 2023, further weigh on Gold.
Additionally, Wednesday's US Consumer Price Index (CPI) report signaled slower progress in reducing inflation, suggesting fewer rate cuts in 2024. Coupled with a bullish run in US equity markets, this has driven investors away from Gold. Traders now await the US Producer Price Index (PPI) release for near-term direction, with attention on Fed Chair Jerome Powell's speech later today.
Personal comments NOVA:
The H4 price frame shows a strong downtrend, pay attention to the support zone, buyer liquidity here is quite large 2548
SET UP GOLD PRICE:
SELL GOLD zone: $2580 - $2582 SL $2587
TP1: $2565
TP2: $2550
TP3: $2530
BUY GOLD zone: $2515 - $2513 SL $2508
TP1: $2525
TP2: $2540
TP3: $2560
BUY GOLD zone: $2548 - $2550 SL $2545 scalping
TP1: $2558
TP2: $2564
TP3: $2570
Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
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
GOLDEN INFORMATION:
Gold price (XAU/USD) extends its decline for the fifth consecutive session, hitting its lowest level since September 19 near $2,558 during Thursday’s Asian session. Persistent US Dollar (USD) strength, fueled by optimism over President-elect Donald Trump's pro-growth policies and expectations of a Federal Reserve (Fed) pause in easing, keeps pressure on the non-yielding metal. Elevated US Treasury yields and a strong USD, which reached its highest level since November 2023, further weigh on Gold.
Additionally, Wednesday's US Consumer Price Index (CPI) report signaled slower progress in reducing inflation, suggesting fewer rate cuts in 2024. Coupled with a bullish run in US equity markets, this has driven investors away from Gold. Traders now await the US Producer Price Index (PPI) release for near-term direction, with attention on Fed Chair Jerome Powell's speech later today.
Personal comments NOVA:
The H4 price frame shows a strong downtrend, pay attention to the support zone, buyer liquidity here is quite large 2548
SET UP GOLD PRICE:
SELL GOLD zone: $2580 - $2582 SL $2587
TP1: $2565
TP2: $2550
TP3: $2530
BUY GOLD zone: $2515 - $2513 SL $2508
TP1: $2525
TP2: $2540
TP3: $2560
BUY GOLD zone: $2548 - $2550 SL $2545 scalping
TP1: $2558
TP2: $2564
TP3: $2570
Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
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
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