Gold Rally – With Rate Cuts Near
✍️ NOVA hello everyone, Let's comment on gold price next week from 8/12 - 8/16/2024
🔥 World situation:
Gold prices continued to rise for the second consecutive day as traders remain confident that the Federal Reserve (Fed) might start easing policy at the upcoming September meeting. Rising tensions between Israel, Lebanon, and Iran also support gold ahead of the weekend. XAU/USD is trading at $2,432, up by 0.22%.
Recent US economic data indicates a slowing economy, though not enough to spark recession fears. Concerns following weak ISM Manufacturing PMI and July Nonfarm Payrolls (NFP) reports eased, as shown by the gains in US equities late in the New York session.
🔥 Identify:
Gold price recovers - important motivation for FED interest rate cut is getting closer - waiting for attention resistance zones next week: 2448, 2480, 2500
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2448, $2480, $2500
Support : $2405, $2387, $2352
🔥 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
🔥 World situation:
Gold prices continued to rise for the second consecutive day as traders remain confident that the Federal Reserve (Fed) might start easing policy at the upcoming September meeting. Rising tensions between Israel, Lebanon, and Iran also support gold ahead of the weekend. XAU/USD is trading at $2,432, up by 0.22%.
Recent US economic data indicates a slowing economy, though not enough to spark recession fears. Concerns following weak ISM Manufacturing PMI and July Nonfarm Payrolls (NFP) reports eased, as shown by the gains in US equities late in the New York session.
🔥 Identify:
Gold price recovers - important motivation for FED interest rate cut is getting closer - waiting for attention resistance zones next week: 2448, 2480, 2500
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2448, $2480, $2500
Support : $2405, $2387, $2352
🔥 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
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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