Expectations of a rebound before FOMC news

Smart investment, Strong finance

GOLDEN INFORMATION:
The price of gold (XAU/USD) is experiencing a recovery due to the weakening of the US Dollar and a mixed market consolidation. This rebound is also supported by the recent rate cut by the People's Bank of China (PBoC) and negative economic data from China, which indicates that further stimulus may be needed. Additionally, the decline in the US Dollar Index (DXY), along with low Treasury bond yields and cautious optimism in the market, has provided some relief for gold bears. As a result, there is currently a temporary pause in downward pressure on gold prices after reaching a five-week low.

Personal comments NOVA:
The downtrend is still key on the positive of the dollar. Buyers can ramp up pressure before the FOMC announcement to create momentum for a stronger crash

SET UP GOLD PRICE:
BUY GOLD zone: $1893 - $1895 SL $1885
TP 1: $1903
TP2: $1915


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

הערה:

Price is waiting for news tonight to have a clear trend, waiting for entry

BUY $1893 - $1895

הערה:

Miss entry 1896 about 15 pips, miss + 80 pips

הערה:

Buy gold 1895-1898 SL 1890
Tp: 1902- 1905-1910