Technical analysis by Nova-Scalper about Symbol PAXG: Buy recommendation (12/11/2024)

⭐️Smart investment, Strong finance⭐️GOLDEN INFORMATION:Gold price (XAU/USD) continues its weekly rally for the third straight day on Wednesday, reaching a two-and-a-half-week high during the Asian session. The metal aims to sustain its momentum above the $2,700 level, supported by multiple factors. Geopolitical tensions from the escalating Russia-Ukraine conflict, unrest in the Middle East, and concerns about US President-elect Donald Trump's proposed tariffs drive safe-haven demand. Additionally, expectations of rate cuts by major central banks further bolster the non-yielding yellow metal.However, the US Dollar's (USD) recent rebound to a near one-week high on Tuesday limits further gains for USD-priced Gold. Moreover, traders remain cautious ahead of today's US consumer inflation data, which could shape the Federal Reserve's policy decision next week, influencing the USD and Gold's direction. Despite this, the broader outlook suggests that the XAU/USD remains biased towards further upside movement.⭐️Personal comments NOVA:The large time frame is showing a strong recovery in the 2700 price range. Continue the short-term uptrend, waiting for a bearish price reaction at 2722⭐️SET UP GOLD PRICE:🔥SELL GOLD zone: $2720 - $2722 SL $2727TP1: $2710TP2: $2700TP3: $2690🔥BUY GOLD zone: $2685 - $2683 SL $2680 scalping ( Asian and European sessions )TP1: $2690TP2: $2695TP3: $2700🔥BUY GOLD zone: $2673 - $2671 SL $2666TP1: $2680TP2: $2690TP3: $2700⭐️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 account2700 is having great competition from buyers and sellers. The uptrend is still dominantGold prices rise - exact PLAN DAY trend. Approaching the 2720 price range