Beginning of the week with a slight recovery of gold price

Smart investment, Strong finance

GOLDEN INFORMATION:
The Gold Price (XAU/USD) is protecting its previous weekly rebound, which is the first in five weeks. It has risen for two consecutive days due to the overall weakness of the US Dollar. The cautious optimism in the market and lower Treasury bond yields are also contributing to the recovery of XAU/USD.

It is important to mention that the US Dollar Index (DXY) is supporting this recovery because of a data-driven approach by Fed policymakers and recent mixed economic data in the United States. Additionally, there has been a sustained decline in US Treasury bond yields from their multi-year high reached last week.

Personal comments NOVA:
Under the pressure of news that the Fed will continue to raise interest rates by 0.25%, putting pressure on the US economy, Gold prices have recovered. But selling pressure and competitive psychology still covered the whole market. Gold price has not been able to break through in the last week of August.

Target continues towards 1900

SET UP GOLD PRICE:
BUY GOLD zone: $1912 - $1914 SL $1907 ( Scalping)
TP 1: $1920
TP2: $1928

BUY GOLD zone: $1904 - $1907 SL 1894
TP1: 1912
TP2: 1922

SELL GOLD zone : $1925 - $1927 SL $1932 ( Scalping )
TP1: $ 1918
TP2: $ 1910

SELL GOLD : $1932 - $ 1935 SL $1945
TP1: $1925
TP2: $1915


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:

+ 25 pips , from entry 1925

Comment:

+ 75 pips from entry 1925

Comment:

+ 35 pips , from entry sell 1932 - 1935