Gold Price is gradually coming the next trend for Gold
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
During Wednesday's Asian session, there is a noticeable interest in buying gold (XAU/USD) at a lower price. This has temporarily halted the downward movement that occurred towards the end of the previous day, just as it approached the significant $2,200 level. The Federal Reserve (Fed) stated last week that it intends to reduce interest rates by 75 basis points in 2024. This, combined with a cautious market sentiment due to concerns about geopolitical risks arising from the ongoing Russia-Ukraine conflict and conflicts in the Middle East, are important factors contributing to the support of gold as a safe-haven asset.
⭐️Personal comments NOVA:
In the long-term frame, Gold price is still in an UP trend, but purchasing power has gradually decreased. The sideway amplitude $2150 - $2180 is gradually breaking and has a new trend in early April 2024
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2150 - $2152 SL $2145
TP1: $2160
TP2: $2168
TP3: $2176
🔥SELL GOLD zone: $2193 - $2195 SL $2200
TP1: $2180
TP2: $2170
TP3: $2160
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY 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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