Gold adjusted at the beginning of the week - still in an uptrend
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) dip slightly to around $2,765 during the early Asian session on Monday, influenced by renewed demand for the US Dollar (USD). However, the downside for the precious metal may remain limited due to prevailing caution and uncertainty over US President Donald Trump's tariff policies.
The USD gains strength as Trump escalates trade tensions with new measures. On Sunday, he imposed significant tariffs and sanctions on Colombia after the country refused to allow two military planes carrying deported migrants to land. Trump announced an emergency 25% tariff on all Colombian imports, set to increase to 50% within a week. This development adds pressure on USD-denominated gold prices.
⭐️Personal comments NOVA:
Gold prices adjusted down after a strong increase last week, creating liquidity at the beginning of the week. Still in an uptrend.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2740 - $2738 SL $2733
TP1: $2748
TP2: $2755
TP3: $2770
🔥SELL GOLD zone: $2783 - $2785 SL $2790
TP1: $2775
TP2: $2768
TP3: $2760
⭐️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
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