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
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