⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) experienced a sharp intraday drop of over 1.5% on Wednesday after coming close to the record high. This decline followed the release of US consumer inflation data, which showed a downward trend in inflation and reinforced expectations for the Federal Reserve (Fed) to begin cutting rates in September. However, investors reduced their expectations for aggressive rate cuts, leading to a modest rebound in the US Dollar (USD) from its recent multi-month low, which put pressure on gold.
Despite this, concerns about a potential escalation of conflict in the Middle East helped limit gold's losses, providing support around the $2,438 level. The precious metal recovered about $10 from its daily low and gained some momentum during Thursday's Asian session, though continued USD buying is capping significant gains. For now, XAU/USD appears to have halted its two-day losing streak as traders await US Retail Sales data and other key economic reports later on Thursday for fresh direction.
⭐️Personal comments NOVA: It is inevitable that liquidity is swept from the 2441 zone, sideways around the price zone of 2441 - 2461 to be able to increase strongly next.
⭐️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
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+ 35 pips, signal PLAN DAY SELL 2459-2461
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Price moves sideways in European session - waiting for important news today
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Gold price recovered slightly around 2460, waiting for important news today
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3 good data for the dollar - bad for gold (gold price drops sharply)
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Gold price shows accumulation - sideway around the price range 2430-2470. Fluctuating within the above price range
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Gold price sideways around 2450-2470 at the end of Thursday's US session
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