⭐️GOLDEN INFORMATION: The price of gold has remained largely the same following the release of the meeting minutes from the US Federal Reserve (Fed) in January. These minutes provided assurance to market participants that the Fed does not have immediate plans to reduce interest rates. Although this could be interpreted as a "hawkish" stance, US Treasury bond yields remained stable upon the release, while the value of the US dollar (USD) slightly decreased by 0.04%. Currently, the XAU/USD is trading within the range of $2020-30.
⭐️Personal comments NOVA: After yesterday's FOMC meeting, Gold prices still maintained the cumulative sideway trend, with not much change in concerns about inflation.
The war situation in the Middle East is still a factor helping Gold maintain above $2020
It is expected that today's PMI news will still help Gold have more motivation to increase in price
⭐️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 prices increased slightly during the Asian session, approaching the $2030 resistance area
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Gold prices are still showing positive price increases due to Middle East tensions and confidence in interest rate cuts this year by the FED.
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Gold price continues to decline after US unemployment news, important $2020 support zone for Gold
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Gold price shows strong selling pressure and continues to decrease
Hello everyone, what do you think about today's Gold price and PMI news?
Indonesia1945
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We are looking for 2020 first. awesome.
Nova-Scalper
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@Indonesia1945, yes , If at the end of the European session, the price has not fallen below the $2030 area, there is a high possibility that during the US session the price will increase first and decrease later.