Downward momentum, downtrend next week, XAU

✍️ NOVA hello everyone, Let's comment on gold price next week from 03/3/2025 - 03/07/2025

🔥 World situation:

US President Donald Trump confirmed that 25% tariffs on Mexican and Canadian goods will take effect next week on March 4. Meanwhile, the Fed’s preferred inflation gauge, the Core PCE Price Index, signaled continued progress toward the central bank’s 2% target.

Following the data, expectations for further Fed policy easing grew. According to Prime Market Terminal, the Fed is anticipated to cut rates by 70 basis points this year, with investors betting on the first reduction in June.

🔥 Identify:

Breaking the trend, gold continues to maintain a downtrend

🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $2876, $2903, $2956
Support : $2810, $2773


🔥 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