Negative News - XAU Continues Bearish Cycle ⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold price (XAU/USD) rebounds from a one-month low near the $2,584-$2,583 region seen during the Asian session on Thursday, halting a two-day losing streak. Geopolitical tensions and trade war fears, combined with the Federal Reserve's (Fed) hawkish shift on Wednesday, have weighed on global risk sentiment. The resulting declines in equity markets have driven safe-haven demand for gold.
However, the Fed's signal of a more cautious approach to rate cuts next year has kept US Treasury yields near multi-month highs and supported the US Dollar (USD), which remains close to a two-year peak. These factors could limit gold's upside, urging caution for bullish traders. Market participants now await US economic data, including the final Q3 GDP figures and Weekly Initial Jobless Claims, for short-term trading cues.
⭐️Personal comments NOVA:
The FED cut 0.25 points as expected, however the statements about future plans are very negative for the market, along with the end of the year transactions will be liquidated by investors causing continued selling pressure.
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2633 - $2635 SL $2640
TP1: $2625
TP2: $2610
TP3: $2600
🔥BUY GOLD zone: $2585 - $2583 SL $2578
TP1: $2595
TP2: $2607
TP3: $2624
⭐️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