⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) continues to gain momentum after breaking through the $2,008-2,010 resistance level earlier this week. It has now climbed higher for the fifth consecutive day on Wednesday. This positive movement has also led to the commodity reaching a near seven-month high, around the $2,052 mark, during the Asian session. Looking ahead, the short-term outlook for gold remains optimistic due to the ongoing weakness in the US Dollar (USD), driven by expectations of a dovish Federal Reserve (Fed) stance.
⭐️Personal comments NOVA:
The growth of Gold at the end of the year has been predicted in advance. Optimism and excitement cover the entire market
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2018 - $2020 SL $2010
TP1: $2032
TP2: $2040
TP3: $2050
🔥SELL GOLD zone: $2060 - $2062 SL $2070
TP1: $2055
TP2: $2048
TP3: $2040
⭐️Technical analysis:
If the Asian session low is breached in a corrective pullback, it is anticipated that there will be substantial support and new buyers around the $2,035-2,034 region. This support should prevent the Gold price from declining significantly, keeping it near the $2,020 level, which is now an important point of reference. Conversely, if buying momentum extends beyond the $2,052 region, or the multi-month high recorded earlier this Wednesday, it could pave the way for a challenge to the all-time high of around the $2,079-2,080 zone achieved in May.
⭐️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