Prices continue to be adversely affected when FOMC announces

Smart investment, Strong finance

GOLDEN INFORMATION:
After analyzing the advanced prints for gold futures markets provided by CME Group, it is observed that open interest continued its upward trend and increased by approximately 1.7K contracts on Wednesday. However, volume experienced a decline and decreased by around 38.1K contracts following the previous daily build.

In terms of gold prices, they declined for the third consecutive session on Wednesday, once again testing the significant area of contention around $1900 per troy ounce. This decrease occurred despite an increase in open interest, which makes the yellow metal susceptible to further losses in the near future. Conversely, if there is a convincing breakdown below the $1900 mark, there will not be any substantial support until it reaches its lowest point since 2023 at $1804 (February 28th).

Personal comments NOVA:
With a lot of selling pressure, along with bad news, gold price continued to plunge to the 1890 zone. Strong support has not been broken, price may sideway around 1890-1910 by the end of this week.

SET UP GOLD PRICE:
BUY GOLD zone: $1889 - $1892 SL $1880
TP 1: $1897
TP2: $1905

SELL GOLD zone: scalping : $1905 - $1907 SL 1912
SELL GOLD zone: $1917 - $1920 SL 1930
TP1: $1910
TP2: $1897

Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order, combination FIBONACCY method

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

Kommentar:

Price is waiting, sideway before important news is announced

Kommentar:

The price showed signs of breaking the 1890 break, continuing to drop to the 188x mark.

BUY GOLD zone : scalping

BUY 1883 - 1886 SL 1880

Tp: 1890 , 1895

Kommentar:

+ 100 pips : from entry 1885