Gold price continues to be in an increasing trend

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⭐️GOLDEN INFORMATION:
The price of gold has pulled back after reaching the 50-day Simple Moving Average (SMA) at $2,033.67 during the European session. It is currently down by 0.40% due to a decline in the value of the US Dollar (USD). The drop in gold prices can also be attributed to an increase in the US 10-year Treasury yield and traders reducing their expectations of a dovish stance from the US Federal Reserve (Fed). Currently, the XAU/USD pair is trading at $2,026.93, having reached a high of $2,037.07.

Although sentiment remains mixed, there is a slight negative bias that favors the US Dollar. Speculators on interest rates have priced out the possibility of a rate cut by the Fed in March and May. However, there is a 50% chance of a quarter of a percentage point rate cut in June. The US 10-year Treasury note has increased by four-and-a-half basis points to 4.295%, but it is still below the year-to-date (YTD) high of 4.354%. This increase in Treasury yields has put pressure on gold prices as investors align themselves with the Fed officials' expectation of three rate cuts by the end of 2024.

⭐️Personal comments NOVA:
Gold price continues in an Uptrend according to the H1 Frame, waiting for the Resistance areas that Gold reaches in this Rising wave.

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2020 - $2022 SL $2015
TP1: $2030
TP2: $2040
TP3: $2050


🔥SELL GOLD zone: $2048 - $2050 SL $2055
TP1: $2044
TP2: $2038
TP3: $2030


⭐️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 is still trading above $2030 during the Asian session. Cumulative sideways
Bình luận
The price moves towards the long-term resistance zone, setting up Scalping SELL 2039-2041
Bình luận
+ 20 pips , scalping SELL 2039-2041
Bình luận
+ 40 pips, scalping SELL 2039-2041
Bình luận
Gold prices tend to increase after today's US data news
Bình luận
+ 100 pips, signal Scalping SELL 2039-2041
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