downtrend below 3300 , after ADP-NF

511
⭐️GOLDEN INFORMATION:

The Federal Reserve’s policy statement noted that economic activity has slowed in the first half of the year, although the unemployment rate remains low and inflation is still “somewhat elevated.” The Fed reaffirmed its commitment to achieving maximum employment and returning inflation to its 2% target, while also acknowledging that “uncertainty around the economic outlook remains elevated.”

Earlier data showed that U.S. GDP grew in the second quarter, but underlying details painted a softer picture. Consumer spending cooled, and business investment declined significantly. According to Reuters, most economists now forecast full-year GDP growth at 1.5%, below the Fed’s 1.8% projection.


⭐️Personal comments NOVA:

Gold prices reacted negatively as the FED kept interest rates unchanged and Chairman POWELL's hawkish stance. Selling pressure below 3300 is being maintained.

⭐️SET UP GOLD PRICE:

🔥SELL GOLD zone: 3360- 3362 SL 3367
TP1: $3350
TP2: $3340
TP3: $3330


🔥BUY GOLD zone: $3249-$3247 SL $3242
TP1: $3258
TP2: $3270
TP3: $3285


⭐️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

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