⭐️GOLDEN INFORMATION: During the Asian trading hours on Thursday, the price of gold (XAU/USD) is showing signs of recovery after a recent decline to around $1,928. However, it remains under pressure due to the hawkish remarks made by the Federal Reserve (Fed) while keeping benchmark policy rates at 5.5%.
As expected in the market, during its September meeting, the Fed decided to maintain interest rates within a range of 5.25-5.50%. Officials are optimistic that they can control inflation without causing significant damage to the economy or job losses. In a press conference, Fed Chairman Jerome Powell reiterated their commitment to achieving 2% inflation and stated that they are prepared to raise rates if necessary.
⭐️Personal comments NOVA: A downward trend after the FOMC meeting, the market still supports the downtrend, the recovery is only a short-term gold price adjustment. Today, gold prices will still increase slightly before falling sharply
⭐️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
Comment
Price traded in slow range 1925-1930, waiting for Unemployment Claims news to be announced
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