SELL NOW!! Downtrend today ahead of PMI
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Smart investment, Strong finance
GOLDEN INFORMATION:
Wednesday saw a dip in the gold price, prompting some buyers to take advantage and halt the previous night's small decline from the $1,904-$1,905 range. During the Asian session, XAU/USD managed to climb back above $1,900. However, despite this recovery, there is still uncertainty regarding any significant upward movement due to growing expectations that the Federal Reserve (Fed) will maintain its hawkish position.
Currently, market participants are increasingly convinced that interest rates will remain higher for a longer period of time. As a result of this sentiment shift in recent times and pricing adjustments made by investors accordingly into their portfolios; it is widely believed that another 25 basis points (bps) interest rate hike may happen before year-end.
This belief has caused US Treasury bond yields to rise and subsequently dragged down gold prices which do not yield any return on investment like bonds do. The precious metal reached its lowest level since mid-March at around $1,885 earlier this week.
Nevertheless; several supportive factors have helped XAU/USD make a modest recovery - leading it towards three consecutive days of positive momentum after experiencing recent downward pressure.
Personal comments NOVA:
Forecasting PMI news results will continue to be bad for gold, gold price will continue to be gloomy around 1880 - 1890
SET UP GOLD PRICE:
BUY GOLD zone: $1893 - $1891 SL $1880
TP 1: $1896
TP2: $1905
SELL GOLD zone: $1908 - $1911 SL $1920
TP1: $1898
TP2: $1880
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
GOLDEN INFORMATION:
Wednesday saw a dip in the gold price, prompting some buyers to take advantage and halt the previous night's small decline from the $1,904-$1,905 range. During the Asian session, XAU/USD managed to climb back above $1,900. However, despite this recovery, there is still uncertainty regarding any significant upward movement due to growing expectations that the Federal Reserve (Fed) will maintain its hawkish position.
Currently, market participants are increasingly convinced that interest rates will remain higher for a longer period of time. As a result of this sentiment shift in recent times and pricing adjustments made by investors accordingly into their portfolios; it is widely believed that another 25 basis points (bps) interest rate hike may happen before year-end.
This belief has caused US Treasury bond yields to rise and subsequently dragged down gold prices which do not yield any return on investment like bonds do. The precious metal reached its lowest level since mid-March at around $1,885 earlier this week.
Nevertheless; several supportive factors have helped XAU/USD make a modest recovery - leading it towards three consecutive days of positive momentum after experiencing recent downward pressure.
Personal comments NOVA:
Forecasting PMI news results will continue to be bad for gold, gold price will continue to be gloomy around 1880 - 1890
SET UP GOLD PRICE:
BUY GOLD zone: $1893 - $1891 SL $1880
TP 1: $1896
TP2: $1905
SELL GOLD zone: $1908 - $1911 SL $1920
TP1: $1898
TP2: $1880
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
Nota
Price is approaching SELL entry 1908 - 1911, price recovers before PMI newsNota
+ 55 pips from entry 1908,3Nota
After the positive PMI news for gold, the price has reached the 1920 mark but NOVA still maintains the view that gold price will decrease in the coming days.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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