The market is stable, Gold price is firmly above $2000

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) is showing a positive trend at the start of the week and maintains its modest gains during the European trading session. However, there is a lack of sustained buying momentum. Last week, the Federal Reserve (Fed) indicated an end to its tightening of monetary policy and projected a total of 75 basis points (bps) in rate cuts by 2024. This limits the upside potential for the US Dollar (USD), which had rebounded from a four-month low on Friday, and serves as a supporting factor for the commodity. Additionally, concerns over geopolitical risks and fears of a deeper economic downturn, particularly in China and the Eurozone, contribute to the demand for the safe-haven precious metal.

⭐️Personal comments NOVA:
the stability of Gold price today, above the $2020 zone. Technical models H1, H4 still show a cumulative sideway trend

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2008 - $2010 SL $2000
TP1: $2018
TP2: $2025
TP3: $2032


🔥SELL GOLD zone: $2032 - $2030 SL $2040
TP1: $2025
TP2: $2018
TP3: $2010

⭐️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

Kommentar:

The price is moving towards the SELL 2030-2032 entry area, waiting for the entry to be matched

Kommentar:

The price moves in a narrow price range from 2020 to 2030. Need new motivation by the end of 2023

Kommentar:

+ 90 pips , from entry SELL 2032