Gold price continues sideways waiting for tomorrow's CPI

Von Nova-Scalper
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⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) struggled to build on Monday's gains and edged lower during Tuesday's Asian session, weighed down by continued US Dollar strength. After Friday's mixed jobs report, investors reduced expectations of a larger Fed rate cut in September, boosting the USD and pressuring gold.

Additionally, a positive sentiment in equity markets further dampened demand for the safe-haven metal. XAU/USD remains within a multi-week trading range as investors await more clarity on the Fed’s rate decision. Focus now shifts to US inflation data due Wednesday, with the potential rate-cut prospects limiting aggressive bearish positions on gold.

⭐️Personal comments NOVA:
There was no important news on Tuesday, Gold prices continued sideways in the price range of 2480-2520 waiting for important data of the week: CPI, PPI,...

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2486 - $2484 SL $2479
TP1: $2495
TP2: $2505
TP3: $2520


🔥SELL GOLD zone: $2519 - $2521 SL $2526
TP1: $2510
TP2: $2500
TP3: $2490


⭐️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
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is still an important price area in the sideway, accumulating 2500
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Gold price moves slowly waiting for tomorrow's CPI news
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Gold price increased during the European session trading around 2510
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Gold price is close to the 2520 price range during the US session
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+ 40 pips , signal Plan day SELL 2519-2521 , great
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