PPI - Will data cause Gold prices to fall next?
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⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) rose for the third consecutive day, reaching a weekly high of around $2,341-2,342 due to weaker US consumer inflation figures. However, the momentum slowed down near the 50-day Simple Moving Average (SMA) resistance after the Federal Reserve's unexpected hawkish stance. The Fed now expects only one rate cut in 2024, compared to the three previously projected in March. This is likely to put further downward pressure on gold during Thursday's Asian session.
⭐️Personal comments NOVA:
After yesterday's data on keeping the FED's interest rates unchanged, it is expected that the Gold price is still in a DOWN cycle. Watch for more data during the week to identify trends
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2280 - $2282 SL $2275
TP1: $2290
TP2: $2300
TP3: $2310
🔥SELL GOLD zone: $2336 - $2338 SL $2343
TP1: $2328
TP2: $2315
TP3: $2300
⭐️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
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) rose for the third consecutive day, reaching a weekly high of around $2,341-2,342 due to weaker US consumer inflation figures. However, the momentum slowed down near the 50-day Simple Moving Average (SMA) resistance after the Federal Reserve's unexpected hawkish stance. The Fed now expects only one rate cut in 2024, compared to the three previously projected in March. This is likely to put further downward pressure on gold during Thursday's Asian session.
⭐️Personal comments NOVA:
After yesterday's data on keeping the FED's interest rates unchanged, it is expected that the Gold price is still in a DOWN cycle. Watch for more data during the week to identify trends
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2280 - $2282 SL $2275
TP1: $2290
TP2: $2300
TP3: $2310
🔥SELL GOLD zone: $2336 - $2338 SL $2343
TP1: $2328
TP2: $2315
TP3: $2300
⭐️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
Note
Gold price is currently trading sideways around the 2310-2320 rangeNote
Gold prices tend to accumulate waiting for today's PPI dataNote
Gold prices increased slightly ahead of the US session - rising ahead of today's PPI dataNote
Bad data for the dollar - Gold prices again benefited positively, trading around 2320Note
Gold price dropped below 2300, downtrend activeNote
Gold prices fall following the trend - bad news for the dollar cannot help gold prices continue to keep going up
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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