⭐️GOLDEN INFORMATION: Gold prices remained relatively unchanged towards the end of the North American session as traders prepared for the release of February's US Consumer Price Index (CPI) data. It is expected that the headline figures will remain unchanged, while core data is anticipated to cool down. This could put pressure on the US Dollar and provide a boost to XAU/USD. Currently, the price of Gold is trading at $2,180.60, showing minimal movement.
In the previous week, the price of Gold reached a record high of $2,195.15, just shy of breaking the $2,200 mark. This occurred after Jerome Powell, Chair of the US Federal Reserve (Fed), testified at the US Congress and acknowledged that inflation was decreasing. Powell mentioned that eventually, the Fed would begin to implement more accommodative policies, but stressed that the central bank's decisions are reliant on data. Despite expressing confidence that inflation is gradually decreasing, Powell emphasized that there is no urgency to lower borrowing costs.
⭐️Personal comments NOVA: US CPI data assesses the current level of inflation.
It's time for a DOWN adjustment to create liquidity for the market
⭐️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
Comment
Gold price has not changed much, trading below the $2180 range
Comment
Gold price broke through the $2175 zone, showing a DOWN correction trend
Comment
Gold prices fell ahead of today's CPI news, currently trading below the $2180 region
Comment
Gold price adjusts down: correct PLAN
+ 230 pips : SIGNAL SELL
Comment
Gold price is in a DOWN adjustment period to create liquidity for the market
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