$2150, sudden increase from Gold

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
During the early European session on Tuesday, the price of gold (XAU/USD) is observed to be fluctuating within a range. It is currently consolidating its recent significant gains, reaching a three-month high around the $2,120 mark touched the previous day. Traders are displaying hesitancy and prefer to wait for further indications regarding the Federal Reserve's (Fed) potential rate cuts before making any new directional bets. As a result, all eyes will be on Fed Chair Jerome Powell's two-day congressional testimony, set to commence on Wednesday.

In addition to this, investors will be faced with the release of crucial US macroeconomic data at the start of the new month. This includes the highly influential monthly employment data, or the Nonfarm Payrolls (NFP) report, scheduled for Friday. Consequently, this data will have a significant impact on the demand for the US Dollar (USD) and subsequently provide fresh momentum for the precious metal. Meanwhile, expectations of rate cuts by the Fed in June are keeping USD bulls on the defensive and offering support to gold, which does not yield interest.

⭐️Personal comments NOVA:
Outstanding growth from Gold, Nearest resistance zone $2150 Gold soon reached

⭐️SET UP GOLD PRICE:

🔥SELL GOLD zone: $2148 - $2150 SL $2155
TP1: $2140
TP2: $2130
TP3: $2120


⭐️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

Bình luận:

Gold price continues to increase strongly above the $2,120 area, the next expected level is $2,150

Bình luận:

+ 210 pips , for trendline increase . BUY 2116

Bình luận:

Gold prices are showing reactions of correction