Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades ABOVE 1725 with take profit at 1740
Alternative scenario:
Sell position is envisaged if price trades BELOW 1710 with take profit at 1698
Fundamentals:
USD: 12:30pm
Core Durable Goods Orders m/m
Durable Goods Orders m/
Comment: Gold has been the most secure commodity to trade in the last set of weeks given its meteoric rise from 1500 to 1700 even in the midst of the pandemic, it has been a safe haven thus the expectation that it would break above 1725 region and settle there till next week.
Analysis: SCRUM Team