⭐️GOLDEN INFORMATION: Fed Chair Jerome Powell and a number of other Federal Reserve officials have expressed the central bank's desire to gather more positive data and confirm the direction of inflation before implementing any changes to monetary policy. As a result of these statements, the financial markets are currently putting an 80% probability on a rate cut by the Fed in June. This reduces previous expectations that the central bank would begin cutting rates in May, as indicated by the CME FedWatch Tool. It is important to note that higher interest rates decrease the attractiveness of non-yielding metals, as they face increased competition from higher-yielding investments.
In addition to this, Israel carried out extensive and deadly airstrikes in southern Lebanon on Wednesday, in response to a missile attack that caused fatalities in northern Israel. Israeli leaders have warned that if the cross-border violence persists, they will take significantly stronger military action in Lebanon. The ongoing geopolitical tensions in the Middle East may contribute to an increase in the price of gold, which is traditionally seen as a safe-haven asset.
⭐️Personal comments NOVA: Gold's DOWN trend still prevails, strong selling pressure causes a lot of SELL volume. Gold prices are likely to continue to fall
⭐️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
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Gold price is still sideways above the $1990 zone
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Gold prices increased slightly during the Asian trading session, a recovery before today's important economic news
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+ 55 pips , for uptrend as indicated by the chart
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Gold's rally before today's news
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+ 50 pips for resistance zone 2005
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Gold price sideways around $2000 during the upward recovery wave. Create liquidity for the market
+ 55 pips , for uptrend as indicated by the chart, from entry BUY 1991
Nova-Scalper
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Hello everyone, what do you think about today's Gold price?
Elkready_Omar
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@Nova-Scalper some increase before another down wave is Possible
Nova-Scalper
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@Elkready_Omar, yes , exactly . In the long term, there is not much motivation to increase prices, the main trend is still DOWN. However, there will certainly be recovery periods to create liquidity before DECREASING