Gold prices today continue their downward trend, trading around $2,642. This decline comes as the market braces for the release of the highly anticipated U.S. labor report from the Department of Labor, scheduled for Friday. According to a Bloomberg survey, nonfarm payrolls for November are expected to show an increase of approximately 200,000 jobs. However, remarks made by Federal Reserve Chair Jay Powell on Wednesday in New York also had a significant impact. Powell emphasized that the U.S. economy is in "very good shape," with risks to the labor market diminishing. This has raised concerns among investors that the upcoming jobs report could outperform expectations, potentially weakening gold’s outlook further. From a technical perspective, the focus is on the descending wedge channel. If sellers manage to defend the resistance levels within this channel, the downtrend may persist. The next projected targets for the sell-off are $2,605, $2,547, and $2,471, respectively. Share your thoughts, opinions, and questions—let's discuss what’s unfolding in the market!
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⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: The upcoming US jobs report will play a crucial role in shaping the Federal Reserve's (Fed) monetary policy decision later this month, influencing the US Dollar (USD) and impacting Gold prices. Meanwhile, optimism that the Fed will approach rate cuts cautiously, amid concerns that President-elect Donald Trump's policies may spur inflation, continues to weigh on XAU/USD. ⭐️Personal comments NOVA: Price dispute: bulls and bears are strong in the Asian session, NF will legitimize the price with a strong discount, personal opinion based on the economic context at the end of 2024 ⭐️SET UP GOLD PRICE: ?SELL GOLD zone: $2687 - $2689 SL $2694 TP1: $2675 TP2: $2660 TP3: $2650 ?SELL GOLD zone: $2655 - $2657 SL $2660 scalping ( Applies to the Asia-Europe session ) TP1: $2648 TP2: $2640 TP3: $2630 ?BUY GOLD zone: $2587 - $2585 SL $2580 TP1: $2592 TP2: $2600 TP3: $2610 ⭐️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
In gold market Bulls are stronger than bears now are waiting for Bearish opportunity from 2652 at resistance level and our target Will be 2620 , gold running sideway from 3 4 days now we will see a Big movement in gold market also we have NFP news today let's come strong with gold.
Got support from the trend line (daily), pulled back from the impulse. Feels like a good place to try long on this. Risk and rewards 1:4
Updated Astro Chart for BTC. High Energy Periods ahead fuel growth into January 5th.
This outlines a potential scenario for TAO v USDT. Rally to late Dec, correction through early Jan. Rally to Cycle high Feb - March. March - September Bearish with a final rally Oct - November.
https://www.tradingview.com/x/WfRg9KaO/ NZD/JPY 4H Timeframe Analysis: Trend: The price is currently in a downtrend and has reached a key support level. A Doji candle formed, with a strong wick that pushed the sellers above and broke our significant horizontal support at the 88.000 level. Price Action: Following the Doji candle, we observed a Buy Signal Confirmation: An Inverted Hammer candle was formed, followed by a Bullish Engulfing candle, all within the breakout and retest zone. This suggests a potential price reversal in the coming hours. We also noticed that price is accumulating buy orders in the area between 88.000-88.450, near a minor resistance zone. This accumulation indicates that buyers are entering the market in this range. Liquidity Zone & Expected Manipulation: The liquidity zone is identified between 88.000-87.600. We anticipate a manipulation in this area, where price could briefly dip before reversing higher. Trade Setup: If manipulation occurs and the price drops to the 87.600 level, we expect a bounce back toward 88.000. This level will serve as our Buy Stop Order, indicating a potential entry point for a bullish reversal. Our target profit is set at 89.000, where we expect price distribution as the market trends higher. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading carries a high level of risk, and you should only trade with money you can afford to lose. Always perform your own research and consider your risk tolerance before making any trading decisions. Past performance is not indicative of future results.
There are mamy fundamentals pointing toward bullish signals , as I’ve laid out in the chart I feel as though it’s setting up for another short term rise in price. Not financial advice! DYOR
Long trade opportunity in NETWEB. Target 1: 3500 Happy Trading!