Sideway - little volatility on the first Monday of the week

Updated
⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
Gold price (XAU/USD) continues its decline for the fourth straight day, trading near $2,650 during early Monday’s Asian session. The stronger US Dollar, following Friday's upbeat Nonfarm Payrolls (NFP) data, is putting downward pressure on gold.

The US added 254,000 jobs in September, exceeding August’s revised 159,000 and the market expectation of 140,000. The Unemployment Rate fell to 4.1% from 4.2%. These positive US data reduce hopes of deeper interest rate cuts by the Federal Reserve, boosting the USD and weighing on gold, which is priced in dollars.

⭐️Personal comments NOVA:
There is not too much information and important economic news, sideway gold price on Monday at the beginning of the week: 2625 - 2660

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2628 - $2630 SL $2623
TP1: $2638
TP2: $2644
TP3: $2650



🔥SELL GOLD zone: $2670 - $2672 SL $2677
TP1: $2660
TP2: $2650
TP3: $2640

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL 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
Trade active
Exact trend - gold price touched trendline H1 2648 then decreased to 2640
Trade active
Gold price increased above 2650 in European session, maintaining sideway stability 2625 - 2671
Trade active
Gold price increased on Monday, approaching the 2660 price range
Trade active
Gold price reached nearly 2660 then suddenly dropped sharply, due to fluctuations from the US session
Trade active
The sellers are gaining the upper hand - the price dropped to the 2640 area
Trade active
GOLD PRICES FALL SLIGHTLY AT THE START OF WEEKLY TRADING!

Gold prices witnessed some slight losses at the start of the new weekly trading, coinciding with the increase in concerns about weak Chinese demand for gold, especially since China is considered one of the largest consumers of the yellow metal in the world.
Beyond Technical AnalysisgoldpriceTechnical IndicatorssellgoldsellsetupsellsignalshortpositionshortsetupshorttradeTrend Analysisxauusdshortxauusdsignal

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