⭐️GOLDEN INFORMATION: On Thursday, gold prices surged to their highest level since May 22, reaching the $2,424-2,425 region due to predictions of a Federal Reserve rate cut in September following a mild US inflation report. However, lack of sustained buying and a modest rebound of the dollar from a nearly three-month low caused some sell-off of the safe-haven metal during Friday's Asian session. The underlying positive sentiment in the equity markets also contributed to this trend.
⭐️Personal comments NOVA: Sentiment is very optimistic in the market after yesterday's CPI news - Gold prices maintain an upward momentum to close to the old all-time high
⭐️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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Price decreased during the Asian session - approaching the 2400 price range
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Gold price is currently sideways around the 2400-2410 range
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Gold adjusted down to 2400 in the European session, before the PPI news
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+ 25 pips, plan day BUY 2391-2393
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+ 40 pips , plan day BUY 2391-2393
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+ 70 pips , signal PLAN DAY 2391-2393 , great
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+ 130 pips, Signal PLAN DAY BUY 2391-2393
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+ 230 pips , amazing signal PLAN DAY BUY 2391-2393
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+270 pips , signal PLAN DAY BUY 2391-2393. Retest 2391 was successful then increased strongly