XAU !! Short recovery - below 2350

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
Gold price struggles to capitalize on previous bounce from $2,300 mark, oscillates in narrow band during Asian session. Currently around $2,330 area, traders seek clarity on timing of Federal Reserve interest rate cuts. Fed adopted more hawkish stance with only one rate cut forecasted for 2024. Markets still expect two rate cuts this year due to subsiding US inflation and weaker Retail Sales data. Rate cut bets rise for September and December.

⭐️Personal comments NOVA:
Gold price is still in the sideway price range of 2300 - 2350, today bank holiday Gold price will not change too much.

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2307- $2309 SL $2302
TP1: $2315
TP2: $2325
TP3: $2340


🔥SELL GOLD zone: $2348 - $2350 SL $2355
TP1: $2340
TP2: $2330
TP3: $2320

⭐️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:

Xau sideway market around area 2330

Commentaire:

Gold price shows signs of overcoming the 2330 resistance mark

Commentaire:

Gold price decreased slightly below 2330, during the late European session

Commentaire:

Gold price continues to sideway around 2330, US bank holiday session

Commentaire:

Gold prices do not move too much during the US session and bank holiday. Currently trading below the 2330 zone