Gold recovered slightly - XAU increased

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
Gold price (XAU/USD) rises on Tuesday after hitting two-week lows of $2,325. The increase is supported by a weaker US Dollar (USD) and safe-haven demand due to geopolitical tensions in the Middle East. However, higher short-term Treasury yields and strong US economic data may strengthen the USD. Traders are cautious ahead of key US inflation data this week. The US Conference Board’s Consumer Confidence and speeches from Fed officials are scheduled for Tuesday. The US Core PCE Price Index on Friday will be closely watched. If there are more hawkish comments from the Fed and signs of persistent inflation, traders may reconsider expectations of a rate cut, leading to a stronger USD and downward pressure on gold prices.

⭐️Personal comments NOVA:
Gold prices recovered slightly at the beginning of the week when there was not much important economic news, mainly sideways

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2334 - $2336 SL $2330 scalping
TP1: $2342
TP2: $2350
TP3: $2360

🔥BUY GOLD zone: $2309 - $2307 SL $2302
TP1: $2315
TP2: $2322
TP3: $2330

🔥SELL GOLD zone: $2378 - $2380 SL $2385
TP1: $2370
TP2: $2360
TP3: $2350

⭐️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 Price Dropped in the Asian Morning Session on Tuesday

Commentaire:

Gold price dropped back to 2340, waiting for today's economic data

Commentaire:

Gold price touched trendline H1 and reacted immediately, increasing slightly

Commentaire:

The actual result was greater than expected (102 > 96.1) good for the dollar, Gold price was under selling pressure, falling to the $2350 area.

Commentaire:

Gold price increased at the end of the day - exceeding the $2360 zone

Commentaire:

Gold price is supported by the very nice short-term H1 upward trendline, still in dispute around $2355 today.