A week filled with negative news for Gold

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold continues to rise after a slight recovery from its three-week low at the $1,900 mark. This upward momentum has carried the XAU/USD pair to a three-day high in the Asian session, hovering around the $1,915-$1,916 range. However, there are still doubts about whether this upward movement will continue.

One of the factors contributing to this rise is a pullback in the value of the US Dollar (USD), which reached its highest level since March on Thursday. As a result, investors are diverting some funds towards gold priced in USD. The decline in USD can be attributed to profit-taking as there is currently a slightly softer tone surrounding US government bond yields.

Nevertheless, expectations remain strong that interest rates set by the Federal Reserve (Fed) will stay higher for an extended period of time. This should provide support for US bond yields and ultimately strengthen the Greenback once again.

In conclusion, while gold prices have experienced some upward movement recently due to fluctuations in both USD and government bond yields, it remains uncertain if this trend will persist.

⭐️Personal comments NOVA:
A week with mostly negative news for gold prices, the main downtrend could end the week in the 1900 zone

⭐️SET UP GOLD PRICE:

🔥 BUY GOLD zone: $1900 - $1903 SL $1890
TP 1: $1907
TP2: $1910
TP3: $1915

🔥BUY GOLD zone: $1892 - $1895 SL $1885
TP1: $1900
TP2: $1904
TP3: $1910

🔥SELL GOLD zone: $1918 - $1921 SL $1930
TP1: 1914
TP2: 1908
TP3: 1900

⭐️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

Kommentar:

+ 35 pips , from entry SELL 1919,5

Kommentar:

+ 40 pips from entry 1920,5 again

Kommentar:

The bad news for Do helped gold prices recover to the 1930 resistance zone. But they fell immediately because the main trend still favored falling prices. Can end the session in the 1922-1926 price range and wait for the next trend in gold prices next week

Trade ist aktiv:

Wait signal scalping : 18/9/2023

Buy 1920-1922 : SL 1917

TP: 1923, 1926