Continued DOWN correction for Gold !! Decrease

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

Gold price (XAU/USD) attracts dip-buying in Asian session, reversing part of previous day's profit-taking slide to $2,150 area. US Treasury bond yields ticked higher after warmer than expected US consumer inflation for February, boosting the US Dollar (USD) and exerting downward pressure on gold. Bullish run in US equity markets also contributed to flow away from safe-haven precious metal.

⭐️Personal comments NOVA:
After yesterday's CPI data, it is good for the Gold dollar to fall. In line with the DOWN adjustment, Gold prices continue to decline to create more liquidity and further accumulation


🔥BUY GOLD zone: $2125 - $2127 SL $2120
TP1: $2135
TP2: $2148
TP3: $2155

🔥BUY GOLD zone: $2135 - $2133 SL $2130 scalping
TP1: $2140
TP2: $2148
TP3: $2155

🔥SELL GOLD zone: $2168 - $2170 SL $2175
TP1: $2160
TP2: $2150
TP3: $2140

⭐️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 price remains sideways, waiting for the next important PPI news this week
The markets are still anticipating a possible interest rate cut by the US central bank in June, as indicated by the softer tone of US Treasury bond yields. This has put pressure on the US Dollar and provided support for the price of Gold. Traders are cautious ahead of the upcoming two-day FOMC meeting and will be watching for signals from the release of US Retail Sales and the Producer Price Index. It is advisable to wait for strong buying momentum before positioning for a continuation of the recent uptrend.
Gold price sideways in a narrow range, still in a DOWN correction cycle
+ 60 pips, signal PLAN DAY SELL 2168-2170

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