The world gold price gained modestly after a series of quiet days thanks to the weakening of the USD. Early this morning, the US Dollar Index, which measures the volatility of the greenback, fell 0.19%, increasing the attractiveness of gold to buyers holding other currencies.
The precious metal will face some significant challenges in the short term. Short-term Treasuries currently offer yields around 5%, which is significant competition for gold, which offers no yield and costs money to hold.
Currently gold price is at fibo 0.382 which shows a sideways level of gold. Tonight we will prioritize selling Gold around 1930. During the day, we will watch scalping to buy
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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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Based on technical indicators EMA 34, EMA89 and support resistance areas with FIBONANCY to set up a reasonable SELL order.
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