Short-term DOWN adjustment rhythm!! XAU
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) is experiencing a slight downward trend during the early European session on Thursday. However, it remains within a familiar range that has been maintained since the beginning of this week. The potential for an increase in interest rates by the Federal Reserve (Fed) for an extended period of time is limiting any significant upward movement. This is due to the resulting higher yields on US Treasury bonds, which undermines the appeal of gold as a non-yielding asset. Additionally, the positive sentiment surrounding equity markets is also contributing to the decline in demand for the safe-haven commodity.
On the other hand, the US Dollar (USD) is facing challenges in attracting significant buyers due to uncertainty regarding the timing and pace of Fed rate cuts in 2024. Furthermore, market expectations currently include five rate cuts over the remaining seven FOMC policy meetings this year. These factors are keeping USD bulls on the defensive and should mitigate any significant decline in gold prices. Traders are now focusing on the release of US Weekly Jobless Claims data and speeches by Richmond Fed President Thomas Barkin for potential market catalysts.
⭐️Personal comments NOVA:
Gold price is in a sideway cycle again after the FED decided not to reduce interest rates in March 2024, unemployment news on Thursday today is also supporting the price to DOWN.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2015 - $2017 SL $2010
TP1: $2022
TP2: $2030
TP3: $2040
🔥SELL GOLD zone: $2048 - $2050 SL $2056
TP1: $2042
TP2: $2036
TP3: $2030
⭐️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
⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) is experiencing a slight downward trend during the early European session on Thursday. However, it remains within a familiar range that has been maintained since the beginning of this week. The potential for an increase in interest rates by the Federal Reserve (Fed) for an extended period of time is limiting any significant upward movement. This is due to the resulting higher yields on US Treasury bonds, which undermines the appeal of gold as a non-yielding asset. Additionally, the positive sentiment surrounding equity markets is also contributing to the decline in demand for the safe-haven commodity.
On the other hand, the US Dollar (USD) is facing challenges in attracting significant buyers due to uncertainty regarding the timing and pace of Fed rate cuts in 2024. Furthermore, market expectations currently include five rate cuts over the remaining seven FOMC policy meetings this year. These factors are keeping USD bulls on the defensive and should mitigate any significant decline in gold prices. Traders are now focusing on the release of US Weekly Jobless Claims data and speeches by Richmond Fed President Thomas Barkin for potential market catalysts.
⭐️Personal comments NOVA:
Gold price is in a sideway cycle again after the FED decided not to reduce interest rates in March 2024, unemployment news on Thursday today is also supporting the price to DOWN.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2015 - $2017 SL $2010
TP1: $2022
TP2: $2030
TP3: $2040
🔥SELL GOLD zone: $2048 - $2050 SL $2056
TP1: $2042
TP2: $2036
TP3: $2030
⭐️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 fell back to below $2030 after a sudden increase to $2040
Comment:
Gold prices continue to fall after unemployment news is good for the dollar, gold falls around the 2020 area
Comment:
Gold price fluctuates stably above $2030, dispute between buyers and sellers
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/Novascalperchannel
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/Novascalperchannel
