Accumulation price zone - XAU continues to trade below 2350

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
Gold price (XAU/USD) trades lower despite weaker USD. Stronger US PMI delayed interest rate cut, limiting gold's upside. However, safe-haven flows from geopolitical tensions in the Middle East and Ukraine may boost gold in the near term.

Investors will closely watch the speeches of Fed members Lisa Cook and Michelle Bowman on Tuesday. Key economic data to pay attention to this week includes the final Q1 US GDP reading on Thursday and the May PCE Price Index on Friday. If there are signs of declining inflation, it could lead to expectations of Fed rate cuts in 2024, potentially weakening the US dollar and benefiting USD-denominated Gold.

⭐️Personal comments NOVA:
Gold price continues to maintain the price range below 2350 - 2300 today, a cumulative sideway price range.

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2302 - $2300 SL $2295
TP1: $2310
TP2: $2320
TP3: $2330


🔥SELL GOLD zone: $2341 - $2343 SL $2348
TP1: $2335
TP2: $2328
TP3: $2320

⭐️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

تعليق:

Gold price sideway around 2320-2330

تعليق:

Gold price awaits economic data today - currently sideways around 2325

تعليق:

Gold price increased above the 2330 zone, reacting to the resistance point at 2334

تعليق:

Gold price increased before CB news - fluctuating around 2330

تعليق:

Actual figures were higher than forecast (100.4 > 100.2) positive for the dollar. Wait for the reaction from the slightly decreasing Gold price

تعليق:

The Downtrend is gradually taking over - 2300 is the target for the week