GOLDEN INFORMATION:

Gold (XAU/USD) struggles to capitalize on a modest weekly bullish gap opening and remains below the $4,100 mark through the Asian session. The US Dollar (USD) stages a modest recovery from its lowest level since June 17 and turns out to be a key factor acting as a headwind for the commodity. The upside for the USD, however, seems limited amid renewed hopes for a US-Iran peace deal and receding US Federal Reserve (Fed) rate hike expectations, which, in turn, helps the non-yielding bullion to preserve gains above the $4,050 level.

⭐️Personal comments NOVA:

The market is currently consolidating within a stable price range of 4000-4200, with the range gradually narrowing. A breakout would trigger significant volatility; expect a downward trend.

⭐️SET UP GOLD PRICE

🔥SELL GOLD zone: 4101 - 4103 SL 4111
TP1: $4085
TP2: $4060
TP3: $4044

🔥BUY GOLD zone: 3998- 3996 SL 3988
TP1: $4010
TP2: $4033
TP3: $4055

⭐️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