Sharp decline XAU after FOMC meeting

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
During the Asian trading hours on Thursday, the price of gold (XAU/USD) is showing signs of recovery after a recent decline to around $1,928. However, it remains under pressure due to the hawkish remarks made by the Federal Reserve (Fed) while keeping benchmark policy rates at 5.5%.

As expected in the market, during its September meeting, the Fed decided to maintain interest rates within a range of 5.25-5.50%. Officials are optimistic that they can control inflation without causing significant damage to the economy or job losses. In a press conference, Fed Chairman Jerome Powell reiterated their commitment to achieving 2% inflation and stated that they are prepared to raise rates if necessary.

⭐️Personal comments NOVA:
A downward trend after the FOMC meeting, the market still supports the downtrend, the recovery is only a short-term gold price adjustment. Today, gold prices will still increase slightly before falling sharply

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $1924 - $1926 SL $1920( Scalping )
TP 1: $1929
TP2: $1932
TP3: $1935

BUY GOLD zone: $1915 - $1917 SL $1905
TP1: $1918
TP2: $1922
TP3: $1930

🔥SELL GOLD zone: $1934 - $1936 SL $1945
TP1: 1930
TP2: 1922
TP3: 1915

⭐️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

تعليق:

Price traded in slow range 1925-1930, waiting for Unemployment Claims news to be announced

تعليق:

+ 30 pips , from entry BUY 1915

تعليق:

+ 70 pips from entry BUY 1915

تعليق:

+ 100 pips , more TP2 . Wonderfull