⭐️GOLDEN INFORMATION: The price of gold has continued to rise for three consecutive days after recent economic data from the United States showed that inflation is still higher than the target set by the US Federal Reserve. Both the Consumer Price Index (CPI) and the Producer Price Index (PPI) for January exceeded expectations, surprising traders and reducing the likelihood of a rate cut by the Fed in March and May. This led to an increase in the value of the US dollar (USD), which has been on the defensive since last Tuesday. The XAU/USD pair is currently trading at $2016.30.
In response to the latest inflation reports, traders turned to gold as a means of protection. Furthermore, the decrease in yields on US Treasury bonds, specifically the 10-year note which reached a year-to-date high of 4.332%, dropped by four basis points to 4.293%. As a result, real yields, which have a negative correlation with gold prices, decreased from around 2.04% on Wednesday to 1.950%, as indicated by the yield on the US 10-year Treasury Inflation-Protected Securities (TIPS).
⭐️Personal comments NOVA: Gold price is in a recovery phase after a sharp DECREASE back to the area below $1990. Currently on the sidelines and waiting for information from the FOMC meeting on Wednesday
⭐️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 moves towards the $2020 trendline area, waiting for a DOWN correction reaction
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Gold price suddenly increased sharply in the Asian and European sessions, approaching the PLAN DAY sell 2029-2031 today
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+ 30 pips, signal plan day SELL 2029-2031
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+ 40 pips, signal plan day SELL 2029-2031
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+ 55 pips, sell plan day , great 2029-2031
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Currently the price is sideways around $2028. The $2030 resistance zone becomes difficult to overcome. Tomorrow's Fomc meeting will decide the next trend