The DOWN trend prevailed at the beginning of the week

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The Gold price (XAU/USD) struggles in the Asian session due to conflicting factors and stays near a three-week low. The expectation of rate cuts by the Federal Reserve and easing inflationary pressures weaken the US Dollar, supporting gold as a safe-haven asset. However, positive market sentiment and hopes for a cease-fire in Gaza limit the upside for gold. Traders are waiting for important US macro data, including the Nonfarm Payrolls report, and central bank decisions from the Bank of Canada and the European Central Bank.

⭐️Personal comments NOVA:
The selling pressure at the beginning of the week is still maintained - the DOWN trend is dominant, waiting for support areas for Gold

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2306 - $2304 SL $2299
TP1: $2312
TP2: $2320
TP3: $2330


🔥SELL GOLD zone: $2340 - $2342 SL $2347
TP1: $2332
TP2: $2327
TP3: $2320

⭐️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
- The winner is the one who sticks with the market the longest

Bình luận:

Gold price increased slightly, sideways around 2320-2330

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Gold prices tend to recover at the beginning of the week on Monday

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ISM Manufacturing PMI (May). Most interesting data: lower than expected data (48.7 < 49.8) bad for the dollar - Gold Rises

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+ 70 pips , signal PLAN DAY SELL 2340-2342

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Gold prices unexpectedly recovered at the beginning of the week