SCALPING XAU / USD
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) remain under pressure during the early European session on Monday, trading near $2,630, at the lower end of the day's range. The US Dollar (USD) rebounds sharply from a nearly three-week low, supported by a rise in US Treasury yields, adding downward pressure on the precious metal.
Additionally, expectations that President-elect Donald Trump's proposed tariffs and expansionary policies will drive inflation higher, potentially prompting the Federal Reserve (Fed) to halt further rate cuts, further weigh on gold. However, concerns over trade tensions, geopolitical uncertainties, and a cautious market sentiment may help limit losses for the safe-haven XAU/USD as investors await key US economic data releases later this week.
⭐️Personal comments NOVA:
Gold price has recovered - continuing sideways, scalping the liquidity zone 2648
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2648 - $2650 SL $2653
TP1: $2644
TP2: $2638
TP3: $2630
⭐️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