⭐️GOLDEN INFORMATION: Gold price (XAU/USD) gains strength on Monday, supported by a weaker US Dollar and escalating geopolitical tensions in the Middle East. The long-term outlook remains positive due to increased demand from central banks. However, expectations of fewer rate cuts by the Federal Reserve and a hawkish stance from Fed officials may put some selling pressure on gold as higher interest rates make it less attractive as a store of value.
⭐️Personal comments NOVA: Gold price recovered slightly in the first session of the week, still in a DOWN correction in the H1 and H4 frames
⭐️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 - The winner is the one who sticks with the market the longest
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Gold price moves sideways around $2340
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Today on bank holiday, Gold price moves slowly and sideways around $2340
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Gold price recovered slightly to $2350, bank holiday USD had no change in price
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