Expect a slight decrease at the end of the week!! XAU

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) is consolidating within a narrow range around the $2035 region per troy ounce during the early trading hours in Asia on Friday. At the same time, the US Dollar Index (DXY), which measures the value of the USD against a basket of six major currencies, is recovering and surpassing the 104.00 mark. The yields on US Treasury bonds are also rising, with the 10-year yield currently at 4.16%.

A decrease in the number of initial jobless claims in the US highlights the resilience of the economy and could potentially lead the Federal Reserve (Fed) to hold off on cutting interest rates in the near future. According to data released by the US Department of Labor on Thursday, the number of weekly initial jobless claims dropped to 218K for the week ending February 3, down from 227K in the previous week. This figure was slightly higher than the market consensus of 220K. Additionally, continuing claims decreased by 23K to 1.891M for the week ending January 27.

⭐️Personal comments NOVA:
Gold prices continue to show stability, buyers and sellers have great competition at this price range. Continued sideways large range $2010-$2040

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2015 - $2017 SL 2010
TP1: $2025
TP2: $2032
TP3: $2040


🔥SELL GOLD zone: $2048 - $2050 SL $2055
TP1: $2040
TP2: $2030
TP3: $2020

⭐️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

Comment:

The Asian session saw prices move very slowly around the $2032-2034 range

Comment:

The price of gold (XAU/USD) is struggling to take advantage of the rebound from the $2,020 level. Instead, it remains confined within a familiar trading range during the early part of the European session on Friday. The growing belief that the Federal Reserve (Fed) will maintain higher interest rates for an extended period is being supported by stronger US macro data and hawkish comments from multiple FOMC members. This is acting as a deterrent for the non-yielding yellow metal. Additionally, the prevailing risk-on sentiment in the market is seen as another factor that is undermining the appeal of gold as a safe-haven asset.

Comment:

Prices fell at the end of the week in a sideway rhythm after news that the Fed decided not to lower interest rates in March