Gold finds ATH price zone above 2880, sideways above 2835

3 hari yang lalu

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:

The People's Bank of China (PBOC) increased its gold reserves for the third consecutive month in January, supporting gold prices as China remains the world’s largest gold consumer. Reserves rose to 73.45 million fine troy ounces, up from 73.29 million in December. Economist David Qu from Bloomberg Economics noted that the PBOC is likely to continue diversifying its reserves amid growing geopolitical uncertainty.

Meanwhile, US labor market data released on Friday indicated continued strength, which could delay Federal Reserve (Fed) rate cuts. The US added 143,000 jobs in January, below the expected 170,000, while the unemployment rate edged down to 4.0% from 4.1%. As a result, traders now anticipate only one Fed rate cut this year, potentially boosting the US Dollar and pressuring gold prices.

⭐️Personal comments NOVA:

Gold accumulates in a good growth price zone, around 2880 and adjusts sideways at the beginning of the week.

⭐️SET UP GOLD PRICE:

🔥SELL GOLD zone: $2884 - $2886 SL $2891
TP1: $2878
TP2: $2870
TP3: $2860

🔥BUY GOLD zone: $2852 - $2854 SL $2849 Scalping
TP1: $2858
TP2: $2863
TP3: $2870

🔥BUY GOLD zone: $2831 - $2833 SL $2826
TP1: $2840
TP2: $2850
TP3: $2860


⭐️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

3 hari yang lalu

Trade aktif

The overwhelming cow side, the trend of increasing at the beginning of the week is very strong on 2900