Economic data is supporting Gold - increase

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
Gold price (XAU/USD) rises on Friday due to a weaker US dollar and lower US yields. Traders expect the Federal Reserve to cut interest rates following weak US GDP data. Geopolitical risks in the Middle East may also boost gold as a safe-haven asset. Later, gold traders will monitor the US Core PCE figure for April, which is expected to show an increase in inflation. If the data is higher than expected, it could support the US dollar and limit gold price gains.

⭐️Personal comments NOVA:
Gold prices rebound after economic data that is not good for the dollar this week - expect the recovery to continue on Friday

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2317 - $2315 SL $2312 scalping
TP1: $2322
TP2: $2326
TP3: $2330

🔥SELL GOLD zone: $2361 - $2363 SL $2366
TP1: $2357
TP2: $2353
TP3: $2348

🔥SELL GOLD zone: $2373 - $2375 SL $2380
TP1: $2368
TP2: $2360
TP3: $2350

⭐️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

Comentário:

Gold prices stabilized in the Asian session on Friday

Comentário:

Sideway Gold price at the weekend, around 2340

Comentário:

Bad results for the dollar - gold increased as planned today

Comentário:

Price nearly touched PLAN DAY SELL 2361-2363 then dropped very sharply

Comentário:

Gold prices show that the selling pressure at the end of the week during the US session is very large - liquidating orders over the week