PPI !! There is a chance for recovery!! XAU

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
On Friday, investors will pay close attention to the economic data coming out of China. It is predicted that the Consumer Price Index (CPI) for the nation will decrease by 0.4% compared to the previous year in December. Similarly, the Producer Price Index (PPI) is expected to drop by 2.6% year-on-year, down from the previous reading of 3.0%. If the data turns out to be weaker than expected, it could potentially have a negative impact on the price of gold, as China is one of the largest consumers of the precious metal worldwide. In addition, the US Producer Price Index (PPI) will also be released later in the day on Friday.

⭐️Personal comments NOVA:
PPI prediction is quite positive for the dollar, Gold price is still sideways around the area below $2040, selling pressure is still trying to return to the $2000 area

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2022 - $2020 SL $2017 scalping Asian session
TP1: $2026
TP2: $2030
TP3: $2034

🔥BUY GOLD zone: $2000 - $2002 SL $1995
TP1: $2010
TP2: $2020
TP3: $2030

🔥SELL GOLD zone: $2053 - $2055 SL $2060
TP1: $2045
TP2: $2038
TP3: $2030

⭐️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:

Gold price increased slightly during the European session, reaching the 2040 zone

Trade active:

Price is tending to break out of the 2040 sideway zone before the PPI news. Important price zone to determine the upcoming trend

Comment:

Price is moving towards the daily plan, let's wait for news of PPI setting up SELL 2053-2055

Comment:

+ 25 pips , nice

Signal SELL 2053-2055

Comment:

+ 60 pips , signal SELL 2053-2055

Comment:

US and Middle East war news directly affects Gold prices along with low data for PPI leading to a sharp increase in Gold prices

Comment:

The 2060 resistance zone became too much for the bulls. Prices have adjusted, but are still returning to the price increase cycle

Comment:

+ 150 pips , for signal SELL 2053-2055