Gold price is recovering, this week

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) is unable to take advantage of the previous day's strength above the 50-day Simple Moving Average (SMA). Instead, it is moving within a narrow trading range during the Asian session on Tuesday. Despite remaining below the $2,040-2,042 supply zone, the precious metal is still within a familiar trading range as traders await more clarity on when the Federal Reserve (Fed) will begin cutting interest rates before making any new bets. As a result, all eyes will be on the outcome of the highly-anticipated two-day FOMC monetary policy meeting scheduled to be announced on Wednesday.

As investors prepare for the significant risk associated with the central bank event, they are reducing their expectations for a more aggressive Fed policy easing in 2024 due to the resilience of the US economy. This is seen as a major obstacle for the non-yielding gold price. However, declining US Treasury bond yields are providing some support. Additionally, the escalating crisis in the Middle East is expected to limit the downside for gold as it serves as a safe-haven asset. Traders are now focusing on the Prelim GDP data from the Eurozone and the US macro data, including the Conference Board's Consumer Confidence Index and JOLTS Job data.

⭐️Personal comments NOVA:
Gold price increased before federal and NF interest rate information this week, expectations of recovery this week are very high

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2012 - $2010 SL $2005
TP1: $2020
TP2: $2028
TP3: $2038

Note the Scalping BUY support zone 2022-2024

🔥SELL GOLD zone: $2048 - $2050 SL $2055
TP1: $2044
TP2: $2038
TP3: $2030


⭐️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

Commentaire:

Gold prices continue to be optimistic about recovery, interest rate information is approaching, which has a positive impact on Gold

Commentaire:

Gold price hit resistance 2040 and decreased and adjusted immediately afterward, proving that buying and selling forces are still competing before tomorrow's interest rate information.

Transaction en cours:

Gold increased sharply beyond the 2040 mark, heading towards an Uptrend this week

Wait entry SELL PLAN DAY 2048-2050

Commentaire:

+ 30 pips, entry SELL 2048-2050

Commentaire:

+ 80 pips, for signal SELL 2048-2050

Commentaire:

+ 185 pips , full TP 3 . Amazing signal

Commentaire:

Gold prices are currently sideways awaiting tomorrow's Fed meeting, hovering around the upper 2030 zone