Cumulative Gold prices prepare for INFLATION data

Nova-Scalper Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
⭐️Smart investment, Strong finance

The price of gold (XAU/USD) continues to trade within a range as it enters the European session on Monday, currently sitting just above last week's monthly low. The prevailing belief that the Federal Reserve (Fed) will maintain higher interest rates for a longer period of time in light of the resilient US economy is supporting elevated US Treasury bond yields. This, coupled with the positive sentiment surrounding the stock markets, is acting as a hindrance for the safe-haven precious metal.

However, the uncertainty surrounding the timing and pace of interest rate cuts by the Fed is not helping the US Dollar (USD) gain significant traction, which in turn is offering some support to gold prices. Traders are also hesitant to take aggressive positions and are waiting for the release of the latest US consumer inflation data on Tuesday, as it will provide clues about the Fed's future policy decisions. This data will play a crucial role in influencing the short-term price dynamics of the USD and will impact the direction of movement for the non-yielding commodity.

⭐️Personal comments NOVA:
In the first trading session of the week, Gold prices continued sideways in the $2020 - $2035 price range waiting for important CPI data this week.


🔥BUY GOLD zone: $2015 - $2017 SL $2010
TP1: $2022
TP2: $2026
TP3: $2031

🔥SELL GOLD zone: $2029 - $2031 SL $2035
TP1: $2024
TP2: $2020
TP3: $2015

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

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
Gold is falling in price below the 2020 zone, waiting for DAILY PLAN for Gold today, BUY zone $2015-$2017
Gold price tries to break the support zone below $2020. Selling force is dominating
+ 25 pips, signal PLAN DAY BUY 2015-2017
+ 35 pips, signal PLAN DAY BUY 2015-2017
+ 50 pips , for signal plan day : BUY 2015-2017

Dear My Friends,

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