Accumulating downwards along the trendline, awaiting FOMC.

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GOLDEN INFORMATION:

The US Consumer Price Index (CPI) report will be published later today and is expected to show a fall in the headline number amid a significant decline in gasoline prices during June. Meanwhile, the focus will be on the core CPI figures, which act as a primary gauge to track the underlying inflation trend. Furthermore, Fed Chair Kevin Warsh's inaugural semi-annual monetary policy testimony before the House Financial Services Committee will influence rate-hike bets. The outlook, in turn, will play a key role in influencing the near-term USD price dynamics and providing some meaningful impetus to the non-yielding Gold.

⭐️Personal comments NOVA:

Gold prices are consolidating - a downward trend following the trendline. The market is awaiting the Fed's interest rate decision.

⭐️SET UP GOLD PRICE

🔥SELL GOLD zone: 4115 - 4117 SL 4125
TP1: $4100
TP2: $4080
TP3: $4055

🔥BUY GOLD zone: 4005- 4003 SL 3995
TP1: $4020
TP2: $4044
TP3: $4060

⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas.

⭐️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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