⭐️GOLDEN INFORMATION: Gold price struggles to rise despite a small increase earlier, trading just below $2,445, almost unchanged today. Investors are more interested in riskier assets due to expectations of the Fed starting to cut rates soon, leading to a positive stock market and weakening demand for gold.
The Gold price is somewhat supported by a weak US Dollar caused by the Fed's cautious stance. The Fed's hints at a rate cut in September and low US Treasury bond yields are keeping the dollar down. Additionally, tensions in the Middle East are supporting the safe-haven gold.
⭐️Personal comments NOVA: Gold price after yesterday's FOMC news, benefited from the increase in price from the statement that the move will reduce interest rates as soon as September 2024. Expect a new ATH to continue in 2024
⭐️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
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Gold price is maintaining a fairly high price range above 2440
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Price is adjusting downward below 2440 - OB zone. Wait for entry BUY plan day 2433-2431
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+ 30 pips, signal PLAN DAY BUY 2433-2431
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+ 55 pips , signal PLAN DAY BUY 2433-2431
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+ 90 pips , signal PLAN DAY BUY 2433-2431
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+ 190 pips , Plan day BUY 2433-2431
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+ 265 pips, signal PLAN DAY BUY 2433-2431
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The 2460 resistance zone became strong - the price fell back to the 2440 zone. Still an area that creates great liquidity for the Uptrend
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Gold price waits for NF today - opportunity for new ATH
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