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Gold sideway below 2700 - in DOWN trendSCALPING XAU / USD ⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Traders took profits on recent Trump trades, leading to a pullback in the US Dollar from a four-month high and giving a boost to Gold prices on Thursday. The USD continued to ease after the Federal Reserve cut its benchmark interest rate by 25 basis points, bringing it to a target range of 4.50%-4.75%. ⭐️Personal comments NOVA: sideway in a bearish correction - waiting for the 2700 resistance zone to scalp SELL ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2700 - $2702 SL $2705 TP1: $2694 TP2: $2688 TP3: $2680 ⭐️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
OANDA:XAUUSDShort
by Nova-Scalper
3
S&P500 (SPY) Hits Target #2 Today!Traders, though we've still got a ways to go to our final target of 670-700 on the SPY, it is worth celebrating our direct hit of 600 today. I remember a year ago drawing out 563 as a first target for our blow-off top and I was laughed at. Bears were in their mood and hungry. They wanted more blood. But a combo of our Elliot Wave and a daily inverse head and shoulders showed us exactly where we would hit. Then I spotted this nice cup and handle on the weekly. If you remember, it was almost invalidated with that China carry trade flash crash. But I stood my ground and stated that we would need to see another weekly open and close below our neckline before the bet was off. That did not happen and we are well on our way to that 670-700 final target. However, before we get there, I do believe our 600 level on the charts will provide some psychological resistance. Admittedly, this was more of a guess than anything when I had drawn it up and placed it on my chart several weeks ago. But now, we are seeing overbought conditions on both the daily and weekly charts. Are we a bit over-heated? I think we may be and should be prepared to see a bit of a drop, or at least a week or so of sideways price action, before we break 600. Unlike my first target at which I sold and buy the carry trade dip for massive profit, I don't know that I will be selling here. 600, as I stated already, was more of a guess than anything. But I am pretty decent at making these guesses. Experience and lots of psychology and chart study has taught me. Before I get ahead of myself though, let's watch and see what the market decides to do next week. ✌️ Stew
AMEX:SPY
by stewdamus
1
CADJPY at strong resistance in the Daily chartHistorical context: +60% up since 2020 The CAD/JPY pair has demonstrated a remarkable upward trajectory since March 2020, recording an impressive increase of over 60%. This surge can be partly attributed to Japan's prolonged monetary policy, which maintained negative interest rates while many other countries raised their rates to combat inflation following the pandemic. Recently, the Bank of Japan signalled a significant shift in its monetary policy, indicating its intention to begin raising interest rates. This development has provided a boost to the Japanese Yen. The current pullback represents the sharpest decline observed since the onset of the uptrend in 2020, potentially signalling a change in market direction. This analysis will delve into the recent price action, loss of key support levels, and critical areas to monitor. Technical Perspective: Key Indicators Break Below the 200-Period Moving Average The recent breach below the 200-period moving average signifies a weakening uptrend. This movement suggests a potential reversal in the prevailing direction, accompanied by increasing selling pressure. The 200-period moving average is often regarded as a critical threshold separating bull markets from bear markets, making a drop below this level particularly significant. Accelerating Downward Movement The decline observed between 10 July and 5 August marks the steepest drop in CAD/JPY since 2020. Most notably, this downturn has effectively engulfed all gains made by CAD/JPY over the previous 12 months. The acceleration of this downward movement underscores significant selling interest in the pair. Fibonacci Analysis and Price Structure Following the breakout of the SMA200 on the daily chart, the price has retraced to the 50% Fibonacci level of the recent downtrend. The 50% level is often viewed as a critical area of interest that can present opportunities aligned with the primary trend. The confluence of the 50% level with the 200-period moving average marks a pivotal point for sellers at this juncture. Possible Sell Scenario Given the breach of the 200-period moving average and the prevailing price structure indicating a potential reversal, a selling opportunity may arise if the pair continues to exhibit weakness. A sell signal could be triggered if the price breaks below the uptrend line on the daily chart (highlighted in black). Initial targets for this sell-off could include the 23.6% Fibonacci level at 105.7, with an extended target around the 103.00 region. A stop loss should be established if the price demonstrates a clear breakout above the range defined by the 50% Fibonacci level and the SMA200 on the daily chart, situated around 111.20. The CAD/JPY pair is beginning to exhibit signs of exhaustion following a prolonged uptrend. The breach below the 200-period moving average and the testing of Fibonacci levels suggest a potential period of correction or reversal ahead. Close monitoring of price action around the 108.229 and 110.258 levels will be crucial in validating any potential short entries. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
Short
by Marketscom
XAU! 11/8! Create liquidity for the downtrendXAU / USD trend forecast November 8, 2024 Gold prices rose above $2,700 after the Federal Reserve cut interest rates and noted that US election impacts are unlikely to be immediate. Currently, XAU/USD is trading at $2,704, up over 1.7%. Wall Street gained further as the Fed unanimously lowered the federal funds rate by 0.25%. In its statement, the Fed pointed to solid economic growth, though labor market conditions have weakened slightly. Officials also observed that inflation is closer to the Fed’s 2% target but remains somewhat elevated. Long term framework - gold price is still in a downtrend. Market recovered thanks to FED continuing to cut 0.25% as expected. Short term recovery /// SELL XAU : zone 2719-2722 SL: 2727 TP: 50 - 150 - 300 pips (2692) /// BUY XAU : zone 2667-2664 SL: 2659 TP: 50 - 150 - 300 pips (2694) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
1
FED lowers interest rates! Gold recovers in the short term⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold (XAU/USD) faces challenges building on Thursday’s strong rebound from the 50-day SMA support near $2,643, with some selling pressure emerging in the Asian session on Friday. The US Dollar has regained strength, partly recovering from its recent slide, and a generally optimistic risk tone weighs on the safe-haven appeal of gold. Meanwhile, the fading “Trump trade” and a lack of hawkish signals from the Federal Reserve keep US Treasury yields lower, potentially limiting USD bullish momentum and offering some support for gold. Traders are now focused on the upcoming Michigan Consumer Sentiment Index and Inflation Expectations for near-term trading cues. ⭐️Personal comments NOVA: As expected by the market, the FED cut interest rates by 0.25%, bringing positivity and optimism to XAU in the short term. Currently, other financial sectors are starting to become vibrant again, and it will be very difficult for gold to compete. The downtrend will continue ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2727 - $2729 SL $2734 TP1: $2720 TP2: $2710 TP3: $2700 🔥BUY GOLD zone: $2668 - $2670 SL $2663 TP1: $2675 TP2: $2688 TP3: $2700 ⭐️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
OANDA:XAUUSDShort
by Nova-Scalper
1
XAU/USD ! 11/8 ! downtrend line / scalping XAU / USD trend forecast November 8, 2024! SCALPING Gold price (XAU/USD) stays below $2,700 as the European session approaches on Friday, weighed down by a slightly stronger US Dollar (USD) amid optimism that Trump’s policies may boost economic growth and inflation. Additionally, a generally positive risk sentiment is reducing demand for the safe-haven metal, pausing its recent recovery from the 50-day Simple Moving Average (SMA) support, after hitting a three-week low on Thursday. Still following the downtrend - waiting for trendline and retest 2689, scalping down today /// SELL XAU : zone 2689-2692 scalping SL: 2695 TP: 40 - 80 - 150 pips (2677) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
3
Scalping ! XAU ! Trendline Recovery 2678SCALPING XAU / USD ⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: The US Federal Reserve’s policy decision on Thursday is in focus, with markets widely anticipating a 25 basis point rate cut, which could support gold by lowering the opportunity cost of holding non-yielding assets. According to the CME FedWatch Tool, there is a 98.1% chance of this quarter-point cut in November. ⭐️Personal comments NOVA: Trendline + DOW , Gold price recovered briefly - for the upcoming decline to 2606 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2668 - $2670 SL $2673 TP1: $2665 TP2: $2662 TP3: $2658 ⭐️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
OANDA:XAUUSDShort
by Nova-Scalper
2
Sideway rhythm - recovers and continues to decrease⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold (XAU/USD) continues to decline for a second straight session on Thursday, pressured by a stronger US Dollar following Donald Trump’s election victory. The reduced demand for safe-haven assets like gold reflects market optimism and a shift towards “Trump trades,” spurred by the clarity of the election outcome, which contrasts with earlier fears of a contested result. ⭐️Personal comments NOVA: Yesterday's strong sell-off - proving the downward trend in gold prices by the end of 2024. Sideway rhythm - accumulates and continues to decrease to lower levels: 2606 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2678 - $2680 SL $2685 TP1: $2670 TP2: $2660 TP3: $2650 🔥BUY GOLD zone: $2645 - $2643 SL $2640 scalping TP1: $2650 TP2: $2658 TP3: $2670 🔥BUY GOLD zone: $2606 - $2604 SL $2599 TP1: $2620 TP2: $2635 TP3: $2650 ⭐️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
OANDA:XAUUSDShort
by Nova-Scalper
1
Gold price drops - stabilizes by the end of 2024XAU / USD trend forecast November 7, 2024 Gold dropped to a three-week low below $2,700 per ounce on Wednesday following the 2024 US Presidential election, with former President Donald Trump’s win strengthening the US Dollar and Treasury yields. XAU/USD saw a decline of over 2.5%, trading around $2,667 at the latest. Market uncertainty has eased, as Trump’s victory was more decisive than anticipated. Additionally, the Republican party secured majorities in both the Senate and the House of Representatives, completing a “red sweep.” Gold price dropped sharply to 2644, strong downtrend. Still in the upcoming downtrend, ending the price increase cycle of previous months. /// SELL XAU : zone 2682-2685 SL: 2690 TP: 50 - 150 - 300 pips (2655) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
4
GBP/USD ! 11/7 ! sideway price zone - resistance signal SELLGBP/USD trend forecast November 7, 2024 The GBP/USD pair finds support during the Asian session on Thursday, moving up from its mid-August low near the 1.2830 area touched the day before. Spot prices now aim to sustain momentum above the 1.2900 level as focus turns to significant central bank events. The Bank of England (BoE) is expected to announce a rate cut today, its second this year, in response to slowing inflation. However, expectations that UK Finance Minister Rachel Reeves' upcoming budget could boost inflation, potentially slowing future BoE rate cuts, help support the British Pound. A slight dip in the US Dollar also contributes to GBP/USD gains. Against the backdrop of a rising dollar - GBP is not much changed. sideways and slightly down /// SELL GBP/USD : zone 1.29520 - 1.29720 SL: 1.30100 TP: 60 - 120 - 250 pips (1.27220) Safe and profitable trading
Short
by Moon-ForexAcademy
4
Downtrend continues - GOLD slows down⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold (XAU/USD) faces heavy selling pressure heading into Wednesday’s European session, dropping to near $2,700, marking a nearly three-week low. With Republican nominee Donald Trump leading the US presidential race and likely to become the 47th president, the US Dollar is seeing a strong rally, spurring sell-offs in gold. Concerns over deficit spending and expectations for a less aggressive rate cut from the Federal Reserve are also driving US Treasury yields higher, diverting interest from the non-yielding gold. Additionally, a risk-on mood—shown by a strong rally in US equity futures—suggests a downward trend may continue for XAU/USD. ⭐️Personal comments NOVA: The election results pushed gold prices back to the support price range of 2700, a recovery in correction mode. Still maintaining the upcoming gold support zone: 2700 - 2680 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2748 - $2750 SL $2755 TP1: $2740 TP2: $2725 TP3: $2715 note scalping support: 2713 🔥BUY GOLD zone: $2700 - $2702 SL $2695 TP1: $2708 TP2: $2715 TP3: $2730 ⭐️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
OANDA:XAUUSDShort
by Nova-Scalper
5
XAU! 11/6! Gold price down - soon to $2700XAU / USD trend forecast November 6, 2024 Gold price (XAU/USD) struggles to build on Tuesday's rebound from the $2,725-2,724 region, hovering between small gains and losses in Wednesday's Asian session. Rising demand for the US Dollar, fueled by exit polls showing Donald Trump leading in key swing states, poses a challenge for gold. Additionally, a strong rise in US Treasury yields and a risk-on market mood put further pressure on the non-yielding metal. However, expectations of heightened volatility around the US election results prevent traders from taking strong bearish positions, which should help contain any significant downside for gold. After clearing the liquidity of the 2748-2750 price range, the gold price is still moving in the 2730-2745 price range. The election results will create a positive and optimistic financial market. The gold price cools down - drops to 2700 /// SELL XAU : zone 2742-2745 SL: 2750 TP: 50 - 150 - 300 pips (2715) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
9
Short-term recovery for a stronger downward correction⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold (XAU/USD) sees new selling pressure during Tuesday’s Asian session, dipping to over a one-week low near $2,725-2,724, though the downside appears limited. The uncertainty around the tight US presidential election and potential escalation of Middle East tensions could keep supporting this safe-haven asset. Additionally, the unwinding of "Trump trades" and expectations that the Federal Reserve may cut rates further due to a slowing US labor market have pushed US Treasury yields lower. This has prevented the US Dollar from extending its overnight recovery and may continue to limit any significant pullback in Gold prices. ⭐️Personal comments NOVA: The downward adjustment trend still maintains the H1 and H4 frames. If you want a stronger decrease - a short-term recovery in the downtrend in the price range 2747 - 2761 is more expected. Current selling volume is slowing down due to support zones blocking it ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2748 - $2750 SL $2753 scalping TP1: $2743 TP2: $2737 TP3: $2730 🔥SELL GOLD zone: $2762 - $2764 SL $2769 TP1: $2750 TP2: $2730 TP3: $2717 🔥BUY GOLD zone: $2716 - $2714 SL $2709 TP1: $2725 TP2: $2732 TP3: $2740 ⭐️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
OANDA:XAUUSDShort
by Nova-Scalper
4
Adjustment - gold price drops! Waiting for the new US president⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold (XAU/USD) remains positive on Monday as US election risks and Middle East tensions continue to support the safe-haven asset. However, stronger demand for the Greenback and rising US bond yields could limit Gold’s gains, as higher yields make non-yielding assets like Gold less appealing. Investors are focused on Tuesday's US presidential election, with the market’s attention shifting to the Federal Reserve’s rate decision on Thursday. Given the election uncertainty, it’s anticipated that the Fed will opt for a standard 25 basis point rate cut, rather than a larger half-point easing. ⭐️Personal comments NOVA: Gold price officially decreased - legalized adjustment with the US presidential election. The US economy will have a new breeze - boosting the economy and other investment areas. Gold will wait for the next interest rate information ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2757 - $2759 SL $2762 scalping TP1: $2750 TP2: $2740 TP3: $2730 🔥SELL GOLD zone: $2771 - $2773 SL $2778 TP1: $2765 TP2: $2750 TP3: $2740 🔥BUY GOLD zone: $2717 - $2715 SL $2710 TP1: $2725 TP2: $2732 TP3: $2740 ⭐️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
OANDA:XAUUSDShort
by Nova-Scalper
1
XAU / USD ! 11/4! Downtrend - correction continuesXAU / USD trend forecast November 4, 2024 Gold price (XAU/USD) sees modest gains around $2,740 during early Asian trading on Monday, breaking a two-day losing streak. Safe-haven demand for gold may rise due to uncertainties surrounding the US presidential election and Middle East tensions. The upcoming US presidential election on Tuesday is a key focus this week. Analysts at JPMorgan suggest that any decline in gold prices, regardless of the election results, could be a buying opportunity. Gold price continues downtrend H1 - waiting for the US presidential election move and the decision to lower interest rates or not in November 2024 /// SELL XAU : zone 2747-2750 SL: 2755 TP: 50 - 120 - 200 pips (2730) /// BUY XAU : zone 2717-2714 SL: 2709 TP: 50 - 120 - 200 pips (2734) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
3
EUR/CAD Approaches Key Resistance Level on the Daily ChartEUR/CAD is currently trading near its highest resistance level since 2021, around 1.5200. This price zone has been tested multiple times in recent months, indicating strong resistance that the market has struggled to overcome. The repeated testing without a definitive breakout suggests that selling pressure may be building, which could lead to a reversal if the support below is breached. Key Resistance at 1.5200: This resistance level has been challenged several times, establishing it as an important psychological barrier in the market. The ongoing difficulty in breaking through this area supports the notion that a retracement could occur in the coming weeks. Support at 1.5075 (Potential Trigger Level): The 1.5075 level is identified as a significant support point in the short term. If the price drops below this level, it could generate considerable selling pressure, indicating that the pair has lost critical support and triggering potential short positions. Potential Selling Opportunities: Given the recent behavior of testing resistance and the absence of a sustained breakout to the upside, the current market structure suggests a possible sell-off. The trading plan may include: Short Entry: A short position could be considered if the price breaks below 1.5075, confirming the loss of support and signaling a potential reversal. Upon this breach, EUR/CAD could decline towards the 1.4900 level, where another crucial support area exists on the daily chart. Alternative Scenario: Conversely, EUR/CAD remains in an uptrend (as indicated by the black trendline on the chart), suggesting that a breakout above the 1.5200 resistance might still occur. If this level is surpassed and the price maintains above it, EUR/CAD may transition into a new price range. In this scenario, the current resistance might turn into support, with the potential for EUR/CAD to rise towards the 1.5350 region in the coming days, where additional resistance can be anticipated on the daily chart. Caution Against Fake Breakouts: Levels of resistance in EUR/CAD present ideal scenarios for fake breakouts that can lead many traders to incur losses. A fake breakout occurs when the price temporarily breaks above or below a relevant level, only to reverse quickly, misleading traders. These often manifest as candles with large wicks or tails. Therefore, it is crucial to seek confirmation before entering a trade to mitigate the risk of getting caught in such false movements. Monitoring Key Levels In summary, as EUR/CAD approaches significant resistance at 1.5200, traders should carefully monitor both resistance and support levels. A prudent approach will involve waiting for confirmation of price movements before entering positions, particularly in the context of potential fake breakouts. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
by Marketscom
GBP/ USD ! 11/4! Resistance H1 SELL NOW ! not NEWS GBP/USD trend forecast November 4, 2024 The GBP/USD pair rises to around 1.2970 during Monday’s Asian session, aided by a weaker US Dollar (USD). The USD faces pressure after October's soft US Nonfarm Payrolls (NFP) data, supporting the pair's gains. Following a 50 bps rate cut in September that initiated the easing cycle, the US Federal Reserve (Fed) is expected to lower rates by 25 bps in its November meeting, with markets assigning a 97% probability to this move. The Dollar weakens as traders prepare for the US presidential election and the Fed’s rate decision this week. There was no USD and GBP news data at the beginning of the week, the price recovered and hit the H1 resistance, along with the 2nd GAP. DOWN to fill liquidity, stabilize the price trend during the week. /// SELL GBP/USD : zone 1.29970 - 1.30200 SL: 1.30500 TP: 60 - 120 - 200 pips (1.28200) Safe and profitable trading
Short
by Moon-ForexAcademy
6
Examining Support at $68,500 and Resistance at $70,600🔹 Market Overview: Bitcoin has managed to hold the significant support level at $68,500 after a recent struggle, closing the daily candle above this level. This stabilization creates an opportunity for the price to move towards the $70,600 resistance. 🚩 Key Levels: Fair Value Gap (FVG) at $70,600: This area, aligned with the 50% Fibonacci retracement of the previous wave, serves as a strong resistance for Bitcoin. Upon reaching this level, there’s a high chance of a bearish reaction and price rejection. Order Block at $71,200: Another resistance at $71,200, overlapping with the 61.8% Fibonacci level, acts as an additional resistance zone that could potentially trigger a trend reversal. 📉 Potential Trend Reversal: If the price encounters these areas (FVG or OB), there’s a high probability of a weekly correction initiating from these points. 📈 Inverse Head and Shoulders Pattern: An inverse head and shoulders pattern is currently forming. If the neckline is broken, it could open a short-term buying opportunity. 🔔 Conclusion: Breaking through these key resistance levels may indicate further bullish movement; otherwise, a pullback to support and a corrective phase might follow.
Short
by arzdigitalistha
1
Fantom (FTMUSDT) Short Signal on 4-Hour Timeframe💡 Technical analysis shows that after completing a 5-wave Elliott pattern, Fantom has entered a corrective phase, forming an ABC correction. Additionally, a Head and Shoulders pattern is in progress, with a potential neckline break signaling an ideal short entry. 🎯 Price Targets: Target 1: $0.53 Target 2: $0.44 Target 3: $0.32 ⏳ Correction Timeframe: Late December 2024 to early January 2025 This time window provides promising shorting opportunities for Fantom. The specified targets can also be considered for re-entry into long positions, as a new bullish wave may begin after the correction completes. ⚠️ Stop Loss: Set a stop loss slightly above the neckline to protect capital.
Short
by arzdigitalistha
NF - the market becomes negative! XAU decrease⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) regain some ground on Friday, supported by uncertainty around the US presidential election and ongoing Middle East tensions, both of which increase demand for safe-haven assets. However, rising US Treasury yields and a stronger US Dollar (USD) could weigh on Gold. Traders are awaiting Friday’s October employment data, including Nonfarm Payrolls (NFP), Unemployment Rate, and Average Hourly Earnings, for further direction. Strong results could reduce expectations for a softer policy approach by the Federal Reserve (Fed), potentially adding pressure on the non-yielding yellow metal. ⭐️Personal comments NOVA: After yesterday's unemployment data - good for the dollar - gold fell sharply. This could be a sign of a major correction as important NF data is released today ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2762 - $2764 SL $2767 scalping TP1: $2755 TP2: $2748 TP3: $2740 🔥SELL GOLD zone: $2788 - $2790 SL $2795 TP1: $2780 TP2: $2770 TP3: $2760 🔥BUY GOLD zone: $2712 - $2710 SL $2705 TP1: $2720 TP2: $2730 TP3: $2740 ⭐️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
OANDA:XAUUSDShort
by Nova-Scalper
10