Gold price sideway is stable above $2150 - $2180
Updated
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) remains above the mid-$2,100s in the early hours of Asian trading on Monday. The increase in the value of the yellow metal is supported by the likelihood that the US Federal Reserve (Fed) may reduce interest rates later this year. Traders are anticipating the release of the US Gross Domestic Product (GDP) figures for the fourth quarter (Q4), which are expected to stay stable at 3.2%, in order to gain new momentum. Currently, the price of gold is trading around $2,168, with a gain of 0.15% for the day.
Last week, after its March meeting, the Fed decided to keep its benchmark interest rate unchanged within the range of 5.25% to 5.50% for the fifth consecutive time. Fed Chairman Jerome Powell hinted that the central bank was planning three interest rate cuts in 2024, which increased investor demand for the precious metal and caused the price of gold to rise. According to the CME FedWatch Tool, investors have priced in a 72% chance that the Fed will begin cutting rates at the June meeting, up from 65% before the rate decision.
⭐️Personal comments NOVA:
After the terrorist incident in Russia, Gold price increased slightly and returned to above $2170. Stable sideway $2150 - $2180 continues to wait for new moves and information from the FED
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2150 - $2152 SL $2145
TP1: $2160
TP2: $2170
TP3: $2180
🔥SELL GOLD zone: $2183 - $2185 SL $2190
TP1: $2175
TP2: $2165
TP3: $2150
⭐️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
⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) remains above the mid-$2,100s in the early hours of Asian trading on Monday. The increase in the value of the yellow metal is supported by the likelihood that the US Federal Reserve (Fed) may reduce interest rates later this year. Traders are anticipating the release of the US Gross Domestic Product (GDP) figures for the fourth quarter (Q4), which are expected to stay stable at 3.2%, in order to gain new momentum. Currently, the price of gold is trading around $2,168, with a gain of 0.15% for the day.
Last week, after its March meeting, the Fed decided to keep its benchmark interest rate unchanged within the range of 5.25% to 5.50% for the fifth consecutive time. Fed Chairman Jerome Powell hinted that the central bank was planning three interest rate cuts in 2024, which increased investor demand for the precious metal and caused the price of gold to rise. According to the CME FedWatch Tool, investors have priced in a 72% chance that the Fed will begin cutting rates at the June meeting, up from 65% before the rate decision.
⭐️Personal comments NOVA:
After the terrorist incident in Russia, Gold price increased slightly and returned to above $2170. Stable sideway $2150 - $2180 continues to wait for new moves and information from the FED
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2150 - $2152 SL $2145
TP1: $2160
TP2: $2170
TP3: $2180
🔥SELL GOLD zone: $2183 - $2185 SL $2190
TP1: $2175
TP2: $2165
TP3: $2150
⭐️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
Note
Gold price dropped to $2,160 during Monday's trading sessionNote
Gold price sideway around $2170Note
Gold price sideways around 2170 as expected, Not too many fluctuations during the Monday session
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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