Prioritize the DOWN trend - GDP news today
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold made some recovery on Wednesday after experiencing two consecutive negative sessions at the start of the week, as geopolitical risks subsided. Despite better-than-expected economic data from the United States (US), a strong US Dollar, and higher US Treasury yields, buyers of the precious metal took advantage of the recent dip. However, by the end of Wednesday, gold closed with a 0.25% loss.
The XAU/USD is currently trading at $2,317, down by 0.05%. The tensions in the Middle East appear to have eased after the exchange of fire between Iran and Israel. The expectations for a Federal Reserve (Fed) rate cut in June and July have dissipated, as many market participants now believe that the fed funds rate will be reduced for the first time in September 2024.
⭐️Personal comments NOVA:
Price is moving sideways around the $2310 - $2330 range, but is trending DOWN. Predicting today's GDP news is good for the dollar, Gold continues to DECREASE in correction
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2278
TP2: $2285
TP3: $2300
🔥SELL GOLD zone: $2339 - $2341 SL $2346
TP1: $2325
TP2: $2310
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
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.