⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) show a slight downward trend near the $2,500 mark on Monday. However, the potential for further decline may be limited due to growing expectations that the US Federal Reserve will start lowering interest rates in September, which typically supports Gold by reducing the opportunity cost of holding it.
Additionally, rising geopolitical tensions in the Middle East and ongoing economic uncertainty are likely to increase demand for the safe-haven asset, supporting Gold prices. However, weak demand in the Chinese economy, the world's largest gold producer and consumer, could weigh on the metal. Later today, the US July Durable Goods Orders are set to be released. This week's key events include the preliminary US GDP for Q2 and the PCE Price Index for July, due on Thursday and Friday, respectively.
⭐️Personal comments NOVA: Gold prices are still positive after the FED's statements, Gold prices continue to maintain above the 2500 zone, stable in the second session of the week.
⭐️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 price increased slightly, clearing liquidity in the 2510-2520 zone after just passing the European trading session
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Gold price increased above 2520 mark on Monday - great buying pressure
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Gold price is in an Uptrend above 2520 waiting for the US session to start
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Miss 12 pips entry SELL PLAN DAY 2528-2530
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The strong support area at 2510 helped Gold prices recover strongly to the 2520 area afterwards
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