Instrument: GOLD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 2076.07 with take profit at 2087
Alternative scenario:
Sell position is envisaged if price trades below 2050.00 with take profit at key level at 2030
Fundamentals:
USD 1:30PM Average Hourly Earnings m/m
Non-Farm Employment Change
Unemployment Rate
Comment: Sino-Us trade tensions and the mixed data on the unemployment claims are major determinants in today’s market but Gold is still pulling through against this weak dollar month. The instrument is very keen on pulling forward and still looks good for a buy again.
Analysis: SCRUM Team