⭐️GOLDEN INFORMATION: Gold price is up on Monday due to a weaker US dollar. The market is reacting to the recent dovish stance from the FOMC and softer US job report. This, along with low US Treasury bond yields and a weak US dollar, is supporting gold prices. Geopolitical tensions in the Middle East are also boosting gold as a safe-haven asset.
Traders are watching the US ISM Services PMI on Monday for potential market moves. If the Services PMI improves as expected, it could strengthen the US dollar and limit gold's gains.
⭐️Personal comments NOVA: The volatility at the beginning of the second week was amazing - fluctuating around the large border from 2415 - 2465. Still in the long-term Uptrend, waiting for important resistance and support areas to enter orders.
⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY 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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Exact trend - price fell back to the support zone 2420 - 2425 then rebounded strongly above 2440
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+ 70 pips , PLAN DAY BUY 2417-2419 , great
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+ 100 pips , BUY plan day 2417- 2419
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Gold prices dropped unexpectedly on Monday, Currently trading around 2360-2370
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Gold price recovered to the 2400 area after the PMI news