1 week of price adjustment, waiting for a recovery

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold remains above $1,950, as it tries to prevent further losses during the Asian session on Thursday. There is a negative sentiment surrounding the precious metal, possibly influenced by US Federal Reserve (Fed) officials who are hesitant to lower interest rates.

In October, China's Consumer Price Index (CPI) decreased by 0.2% compared to the expected decline of 0.1%. On a monthly basis, the CPI fell by 0.1% after previously experiencing a growth of 0.2%. The relationship between inflation rates and the performance of gold is a delicate balance, and any indications of economic weakness can affect the demand for gold.

⭐️Personal comments NOVA:
One week saw Gold's correction back to the 1950 area. Prices will continue to adjust this week, pay attention to support areas where prices recover.

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $1939 - $1941 SL $1934
TP1: $1947
TP2: $1952
TP3: $1958

🔥SELL GOLD zone: $1958 - $1960 SL $1963 Scalping Small lot
TP1: $1955
TP2: $1950
TP3: $1947

🔥SELL GOLD zone: $1970 - $1972 SL $1980
TP1: $1964
TP2: $1958
TP3: $1952

⭐️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

Commentaire:

Prices did not change much on Thursday morning

Commentaire:

The price continued its downtrend, reaching the 1945 zone

Commentaire:

slight recovery after unemployment news. But in general, the downward trend is still dominant