The bears resisted fiercely! XAU adjustment⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold prices (XAU/USD) are rising due to a weaker US Dollar amidst speculation that the US Federal Reserve may cut interest rates in September following weak employment data. Political uncertainties in France and Middle Eastern tensions could further drive up Gold, a traditional safe-haven asset.
⭐️ Personal comments NOVA:
Gold's Monday price correction shows resistance from sellers and bears ahead of today's FED meeting. Gold price is still in a long-term price increase range
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2341 - $2343 SL $2336
TP1: $2350
TP2: $2365
TP3: $2380
🔥SELL GOLD zone: $2370 - $2372 SL $2377
TP1: $2360
TP2: $2350
TP3: $2340
⭐️ 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
Shortgold
SIDEWAY !! Gold price stuck below $2350⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold prices (XAU/USD) started the week subdued, fluctuating below a multi-day peak around $2,340 following the US PCE Price Index release. The key inflation data reinforced market predictions of potential Federal Reserve interest rate cuts in September and December, pushing the US Dollar further from its recent two-month high and bolstering gold as a result.
⭐️ Personal comments NOVA:
Gold price in early July is still maintaining in the range of $2310 - $2350, sideways, waiting for very important news this week.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2312 - $2314 SL $2307
TP1: $2320
TP2: $2330
TP3: $2340
🔥SELL GOLD zone: $2345 - $2347 SL $2352
TP1: $2338
TP2: $2330
TP3: $2320
⭐️ 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
Gold price is stable below the $2350 zone⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) dropped at the start of the week due to the Federal Reserve's surprising hawkish stance. The Fed lowered its rate cut forecast from three to one, resulting in higher US Treasury bond yields and a stronger US Dollar (USD). This caused investors to move away from gold, which doesn't offer yield.
⭐️ Personal comments NOVA:
Gold price sideway, cumulative price range, around $2300 - $2350
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2307 - $2305 SL $2300
TP1: $2315
TP2: $2322
TP3: $2330
🔥SELL GOLD zone: $2340 - $2342 SL $2347
TP1: $2330
TP2: $2320
TP3: $2310
⭐️ 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
CPI and FOMC determine Gold price trend⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) is showing resilience below the $2,300 mark, with modest gains for the second consecutive day. Traders are eagerly awaiting the release of US consumer inflation figures and the outcome of the FOMC meeting, as these will provide insights into when the Fed will start cutting interest rates. This will have a significant impact on the future movement of gold.
⭐️ Personal comments NOVA:
Gold price recovered slightly before today's CPI and FOMC news. With the high possibility that interest rate data will continue to remain unchanged, Gold prices are likely to still recover. Pay attention to resistance areas for prices to react at $2325, $2340.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2280
TP2: $2290
TP3: $2300
🔥SELL GOLD zone: $2323 - $2325 SL $2328 scalping
TP1: $2318
TP2: $2310
TP3: $2300
🔥SELL GOLD zone: $2338 - $2340 SL $2345
TP1: $2325
TP2: $2315
TP3: $2300
⭐️ 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
THE KOG REPORT THE KOG REPORT
In last week's KOG Report, we gave the support levels below, and suggested that if the market opened and those levels held price, we felt an opportunity to long the market would be available into the 2350-55 region and above that 2375, we achieved just short. Due to the ranging price, we stuck with the plan to then look for the short trade from above which also presented itself after we completed going long. It was a decent but frustrating week for traders, however, we completed near all the Excalibur targets, managing to trade it up into our given levels, bar a few pips, and then down again for the end of the week exactly from the level we had given to expect the minor selloff from. We then gave an end of week report with the target level below which was also completed and gave late session traders an opportunity to capture the long on the RIP with a tap and bounce.
A fantastic week in Camelot, not only on gold, but the numerous other pairs we trade analyse and apply the algo to. Excalibur, the hot spots and the red-boxes together with KOG's bias of the day working well again.
So, what can we expect in the week ahead?
We have the order region above 2330-35 with extension of the move into the 2345 region. It’s that 2340 region which is important to look for if we get a move to the upside from opening, price below that level looks weak and we could then see further opportunities to short the market lower into the 2310 and below that 2285-95 region, which is where we feel the RIP will come from for any longs into the immediate levels of resistance.
Below we have the 2320-15 price point, which again is a level of importance, a dip into that price point with rejection could again give the opportunity to long back up into that order region above before then resuming the move to the downside.
Please note, the above is based on the price staying below the order region resistance, if we break above that level we will update our plans through the week. We have to remember, there is no significant breakout here as yet, we’re still in the range 2320-2365-70 which price has been gathering orders within.
We have a lot of news this week as well as NFP on Friday, the market will be very choppy and ranging so please be careful. We always tell our traders, the last few days of the month and the first few days of the month need to be played with caution and your risk management needs to be up to scratch if you’re going to trade these markets.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
Gold price adjusted - slightly decreased⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) loses recovery momentum due to lack of fresh catalysts in a quiet session. However, renewed demand is supported by bets on interest rate cuts from the US Federal Reserve, geopolitical tensions, and strong demand from central banks and Asian buyers. Traders will focus on Fedspeak and the upcoming FOMC Minutes. Hawkish stance from Fed officials may lift the Greenback and lower USD-denominated Gold.
⭐️ Personal comments NOVA:
Gold price in the short-term adjustment price line - creating liquidity for the market. Pay attention to the short support zones $2400, $2390
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2392 - $2390 SL $2385
TP1: $2400
TP2: $2410
TP3: $2420
🔥SELL GOLD zone: $2454 - $2456 SL $2461
TP1: $2448
TP2: $2440
TP3: $2430
⭐️ 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
Return to RETEST entry BUY gold ! Increase⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Minneapolis Fed President Neel Kashkari's recent suggestion that the Fed may halt changes to interest rates and possibly increase the federal funds rate if inflation doesn't decline has strengthened the Dollar. This week's economic agenda includes more commentary from Fed officials, Initial Jobless Claims for the week ending May 4, and the University of Michigan Consumer Sentiment's preliminary report.
⭐️ Personal comments NOVA:
Gold prices decreased when there was not much important economic data this week. Mainly sideways and back to test entry BUY $2290
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2293 - $2291 SL $2285
TP1: $2300
TP2: $2310
TP3: $2320
🔥SELL GOLD zone: $2345 - $2347 SL $2352
TP1: $2335
TP2: $2320
TP3: $2310
⭐️ 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
$2,300, adjusted expectations !!! XAU / USD ⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) is trading lower at $2,335 early Monday in Asia. Persistent US inflationary pressures are raising uncertainty about upcoming Federal Reserve rate cuts. The Fed's interest rate decision on Wednesday will be a key event to watch.
⭐️ Personal comments NOVA:
According to weekly commentary - GOLD PRICE continues to be in the adjusted price range DOWN. Monday, there is not much motivation for price changes, the sideways are mainly in the $2300 - $2350 price range with a wide range.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2302 - $2300 SL $2295
TP1: $2310
TP2: $2320
TP3: $2330
Pay attention to the scalping price range
BUY GOLD ZONE: 2315-2317 SL 2312
TP: 30 - 50 - 100 pips
🔥SELL GOLD zone: $2353 - $2355 SL $2360
TP1: $2348
TP2: $2340
TP3: $2330
⭐️ 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
Gold is forming a correction rhythm ! Increase⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price fell slightly on Tuesday in the North American session due to a weaker-than-expected S&P Global Purchasing Managers Index (PMI) report. Despite the Greenback's weakness, buyers were unable to take advantage, while US Treasury yields declined. XAU/USD traded at $2,323, down 0.11%. The US 10-year Treasury yield remained steady at 4.402%, while US real yields, which have an inverse relationship with gold prices, dropped 0.41% to 2.192%, benefiting the precious metal.
⭐️ Personal comments NOVA:
Gold prices are showing a downward adjustment after a strong price increase in early April. They will continue to decrease after military tensions show signs of cooling down.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2283 - $2285 SL $2278
TP1: $2295
TP2: $2302
TP3: $2310
🔥SELL GOLD zone: $2347 - $2350 SL $2355
TP1: $2335
TP2: $2320
TP3: $2300
⭐️ 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
BREAK 2360, Gold price adjusted DOWN⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The price of gold (XAU/USD) experienced a significant drop of over 2% on Monday, marking its largest daily decline since June 13, 2022. This decrease was primarily attributed to diminishing concerns about a broader conflict in the Middle East, which led to a reduced demand for traditional safe-haven assets. Additionally, the non-yielding yellow metal was dragged down below $2,300 levels, reaching a two-week low during the Asian session on Tuesday, due to decreased expectations of interest rate cuts by the Federal Reserve (Fed).
As a result of this recent decline, the price of gold has now corrected by more than 5% from its all-time high reached earlier this month. However, it is expected that any further decline in the price will be limited, as there is speculation that major central banks will implement interest rate cuts later this year. In light of this, traders may choose to adopt a more cautious approach and refrain from making aggressive bets, opting instead to wait on the sidelines ahead of this week's significant macroeconomic releases in the United States. These releases will commence with the flash PMIs on Tuesday.
⭐️ Personal comments NOVA:
Gold price dropped sharply, BREAK through the $2360 area, entering a corrective wave around the $2300 area
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2285 - $2283 SL $2278
TP1: $2295
TP2: $2302
TP3: $2310
🔥SELL GOLD zone: $2325 - $2327 SL $2332
TP1: $2315
TP2: $2300
TP3: $2290
⭐️ 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
XAUUSD reverses to bearish bias SHORTXAUUSD on a 120-minute chart is showing moving averages slowly converging into deth crosses
and the dual time frame RSI indicator of Chris Moody forecasted the move with bearish
divergence starting March 8th. I have closed my long positions in gold and silver and crossed
the aisle to take short positions . My target for XAUUSD is down to 2085 which is the middle
of the Fibonacci level from the prior uptrend. A predictive model based on Gaussian regression
lines by Luxalgo is showing a blue downtrending line for the remainder of the week with a
potential hihg pivot from which to take the short entry tomorrow.
Gold price sideway is stable above $2150 - $2180⭐️ 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
Gold price continues to adjust !! XAU decrease⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The price of gold (XAU/USD) is facing difficulties in taking advantage of the rebound it experienced from the support level of the 100-hour Simple Moving Average (SMA) around the $2,166-2,165 range. Instead, it is declining during the Asian session on Friday. Despite the Federal Reserve's (Fed) policy update on Wednesday, investors are shifting their focus away from it as the US Dollar (USD) has shown a strong comeback due to optimism surrounding the growth of the US economy. This, coupled with the higher yields of US Treasury bonds and the prevailing risk-on sentiment, are the main factors causing downward pressure on the safe-haven precious metal.
⭐️ Personal comments NOVA:
Gold price after creating a new peak at $2222, decreased immediately then returned to the $2170 area. Currently, economic data is still supporting the dollar
Information, FED keeping interest rates unchanged and world political tensions are still the driving force for Gold prices to increase in the near future.
The DOWN correction is likely to continue today
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2147 - $2145 SL $2140
TP1: $2155
TP2: $2162
TP3: $2170
🔥SELL GOLD zone: $2193 - $2195 SL $2200
TP1: $2185
TP2: $2170
TP3: $2160
🔥SELL GOLD zone: $2188 - $2186 SL $2191 scalping
TP1: $2184
TP2: $2180
TP3: $2170
⭐️ 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
FOMC, Gold prices peak or fall sharply ???⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The price of gold (XAU/USD) is still struggling to gain momentum and remains within a limited range, staying above the $2,150 level as we head into the European session on Wednesday. Speculation has been fueled by strong US consumer and producer inflation data released last week, suggesting that the Federal Reserve (Fed) will maintain its stance of keeping interest rates higher for a longer period. As a result, US Treasury bond yields remain elevated, which continues to support the US Dollar (USD) and puts pressure on gold, which does not provide any significant boost due to its lack of yield.
⭐️ Personal comments NOVA:
Interest rate information is very important today, a lot of previous information showed that interest rates will continue to stay the same
The US economy needs more time to reduce inflation, which is the factor pushing Gold prices to DOWN, facing huge buying pressure from the beginning of 2024.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2148 - $2146 SL $2143 scalping
TP1: $2155
TP2: $2160
TP3: $2165
🔥BUY GOLD zone: $2135 - $2137 SL $2130
TP1: $2145
TP2: $2160
TP3: $2174
🔥SELL GOLD zone: $2175 - $2177 SL $2183
TP1: $2170
TP2: $2160
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
Friday of volatility! Gold adjusted DOWN⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The price of gold (XAU/USD) faced renewed selling pressure on Thursday and declined closer to the weekly low in response to the US Producer Price Index (PPI), which was higher than expected. This data indicated persistent inflation and dampened market expectations for early interest rate cuts by the Federal Reserve (Fed). As a result, US Treasury bond yields rose, boosting the US Dollar (USD) and prompting investors to move away from gold, which does not generate interest.
However, the markets still believe there is a higher likelihood that the US central bank will begin cutting interest rates in June. This, combined with a risk-off sentiment, helped attract some buyers for gold before it reached the $2,150 level, leading to a slight positive bias during the Asian session on Friday. Nevertheless, the XAU/USD remains within a familiar range as traders await more clarity regarding the Fed's stance on rate cuts before making any significant moves. Consequently, all eyes are on the upcoming FOMC meeting next week.
⭐️ Personal comments NOVA:
Positive data for the dollar this week, caused Gold to correct DOWN. In line with the technical chart, Gold prices continue to decline
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2137 - $2135 SL $2130
TP1: $2145
TP2: $2152
TP3: $2160
🔥SELL GOLD zone: $2170 - $2172 SL $2176
TP1: $2164
TP2: $2155
TP3: $2146
🔥SELL GOLD zone: $2188 - $2190 SL $2195
TP1: $2180
TP2: $2170
TP3: $2160
⭐️ 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
Continued DOWN correction for Gold !! Decrease⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) attracts dip-buying in Asian session, reversing part of previous day's profit-taking slide to $2,150 area. US Treasury bond yields ticked higher after warmer than expected US consumer inflation for February, boosting the US Dollar (USD) and exerting downward pressure on gold. Bullish run in US equity markets also contributed to flow away from safe-haven precious metal.
⭐️ Personal comments NOVA:
After yesterday's CPI data, it is good for the Gold dollar to fall. In line with the DOWN adjustment, Gold prices continue to decline to create more liquidity and further accumulation
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2125 - $2127 SL $2120
TP1: $2135
TP2: $2148
TP3: $2155
🔥BUY GOLD zone: $2135 - $2133 SL $2130 scalping
TP1: $2140
TP2: $2148
TP3: $2155
🔥SELL GOLD zone: $2168 - $2170 SL $2175
TP1: $2160
TP2: $2150
TP3: $2140
⭐️ 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
Gold price - CPI waits for a DOWN adjustment⭐️ Smart investment, Strong finance
⭐️ 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
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2135 - $2137 SL $2130
TP1: $2142
TP2: $2150
TP3: $2160
BREAK OUT price range:
SELL: $2175
BUY: $2185
🔥SELL GOLD zone: $2198 - $2200 SL $2205
TP1: $2190
TP2: $2175
TP3: $2160
⭐️ 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
Expect an inevitable adjustment XAU / USD ✍️ NOVA hello everyone, Let's comment on gold price next week from 11/3 - 15/3/2024
🔥 World situation:
The price of gold (XAU/USD) surged to a brand new record high above $2,180 during the early New York session on Friday. This was driven by a decrease in yields on 10-year US bonds, which fell to 4.04% after the release of the US NFP data. Market expectations for the Federal Reserve (Fed) to lower interest rates in the June policy meeting have increased due to a significant slowdown in wage growth and a higher Unemployment Rate.
According to the United States Bureau of Labor Statistics (BLS), the Unemployment Rate rose to 3.9%, surpassing expectations. The previous reading was 3.7%. However, Nonfarm Payrolls (NFP) for February exceeded expectations at 275K, compared to a forecast of 200K. Nonetheless, it remained lower than the previous reading of 353K.
🔥 Identify:
FOMO from the markets during the week was huge. Along with the US economic news, which is mostly beneficial for Gold, it pushes the price of Gold up and increases sharply
This week, NOVA expects an inevitable DOWN correction for Gold
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2200, $2210, $2220
Support : $2132, $2110
🔥 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
NF - expect a DOWN correction FRIDAY⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The price of gold, which had been rising since February 28, dropped close to $2,160 per ounce during Asian trading on Friday. Market expectations of a potential interest rate cut by the Federal Reserve in June have been supporting the price of gold. Fed Chair Jerome Powell's comments during his testimony before Congress further reinforced speculation about rate cuts.
⭐️ Personal comments NOVA:
A week that witnessed record high prices for Gold. A sudden price increase cannot avoid a DOWN correction. NF expects a downward adjustment for Gold
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2100 - $2102 SL $2096
TP1: $2110
TP2: $2120
TP3: $2130
🔥SELL GOLD zone: $2178 - $2180 SL $2185
TP1: $2170
TP2: $2160
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
Gold slightly recovered before the DOWN trend⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The most recent data from the United States presented a mixed picture. In January, Retail Sales experienced a decline of -0.8% on a month-to-month basis, falling short of both the previous month's numbers and the estimated contraction of -0.1%. This decrease was primarily attributed to reduced sales at auto dealerships and gasoline service stations, with stormy weather conditions further impacting sales.
At the same time, Initial Jobless Claims for the latest week stood at 212K, lower than both the forecasts and the previous week's reading of 220K. This development is somewhat unexpected, considering that claims were expected to rise following announcements of layoffs by several companies.
⭐️ Personal comments NOVA:
Gold's short-term recovery in a DOWN trend, $2015 expectations. Today's economic data could help Gold get there
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $1975 - $1977 SL $1970
TP1: $1982
TP2: $1990
TP3: $2000
Pay attention to the $1980 support zone
🔥SELL GOLD zone: $2014 - $2016 SL $2020
TP1: $2010
TP2: $2000
TP3: $1990
⭐️ 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