Gold's strong decline, XAU down !! 3/10

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) has been declining following a warning from the Federal Reserve (Fed) that persistent inflation could lead to another interest rate hike in 2023. The Fed has also maintained its stance of keeping rates higher for a longer period of time. Additionally, strong economic data from the United States (US) has reinforced the possibility of further tightening of monetary policy by the Fed, resulting in increased US Treasury bond yields. As a result, the US Dollar (USD) has reached its highest level since November 2022, causing investors to shift away from gold, which does not generate yield.

⭐️Personal comments NOVA:
After yesterday's ISM Manufacturing PMI news results, the dollar continued to be positive, further affecting gold prices. Gold's strong downtrend shows no signs of reversing

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $1803 - $1806 SL $1796
TP1: $1815
TP2: $1822
TP3: $1830

🔥SELL GOLD zone: $1838 - $1840 SL $1848
TP1: 1830
TP2: 1815
TP3: 1806

⭐️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 prices are increasing slightly, but there is not much motivation to increase prices. Currently trading in zone 1826