⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) demonstrated strength below the 50-day Simple Moving Average (SMA) on Friday and made a slight recovery from a low point reached over two weeks ago. This upward movement occurred after the US Personal Consumption Expenditures (PCE) Price Index was released, indicating a modest increase in inflation in June. This development raised expectations for the Federal Reserve (Fed) to begin reducing interest rates soon. Following the inflation data, US Treasury bond yields decreased, weakening the US Dollar (USD) and supporting the gold, which does not provide interest yields.
⭐️Personal comments NOVA:
Gold price recovered at the beginning of the week - world military news continues to influence gold price to recover to 2400, sideways this area is expected to continue below $2400
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2374 - $2372 SL $2367
TP1: $2380
TP2: $2390
TP3: $2400
🔥SELL GOLD zone: $2406 - $2408 SL $2413
TP1: $2400
TP2: $2390
TP3: $2380
⭐️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