⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) reversed course from near-record highs and dropped below the $2,500 level after Friday's US jobs report. The mixed data lowered expectations of a 50 basis point rate cut by the Fed, leading to some US Dollar recovery and putting pressure on gold.
However, fears of a US economic downturn and ongoing conflict between Israel and Hamas kept demand for safe-haven assets like gold steady. These factors, along with the potential start of the Fed’s rate-cutting cycle, caution against a bearish outlook for XAU/USD.
⭐️Personal comments NOVA: Gold price adjusts to a short-term decrease - creating more liquidity for the expectation of price increase to create a new ATH
⭐️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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Gold price dropped sharply on Monday morning - returning to the 2480 area
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Gold price continued sideways in the range of 2485 - 2500 on Monday
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Gold price increased - recovered slightly in the European session, above 2490
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Gold price increased again above the 2500 zone - the American session began
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+ 35 pips, Plan day SELL 2505-2507 , nice
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+ 90 pips, signal PLAN DAY SELL 2505-2507
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Gold price sideway around 2500. A price accumulation zone is very important for the upcoming trend