The price session at the end of July fluctuates sideways

Smart investment, Strong finance

GOLDEN INFORMATION:
The recent optimistic US GDP report, which was released on Thursday, indicates a remarkably robust economy and leaves room for the Federal Reserve (Fed) to potentially implement another 25 bps rate-hike in either September or November. It is important to remember that Fed Chair Jerome Powell stated last week that the economy still needs to slow down and the labor market needs to weaken in order for inflation to genuinely return to its 2% target. Consequently, this supports the idea of high US Treasury bond yields, which helps counterbalance indications of cooling inflationary pressures in the United States and contributes towards keeping the US Dollar (USD) stable below its almost three-week peak levels reached on Friday. A stronger USD typically exerts downward pressure on commodities denominated in USD, which combined with other major central banks adopting a more hawkish stance puts additional strain on gold prices.

Personal comments NOVA:
The dollar's signs of recovery were the main reason for gold's drop last week. Gold's downtrend will continue this week

SET UP GOLD PRICE:
SELL GOLD zone: $1963 - $1965 SL $1975
TP 1: $1955
TP2: $1940


Technical analysis:
Based on technical indicators EMA 34 , EMA 89 moving average along with the resistance zone of $1965 to set up the SELL zone here.

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