Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1875.86 with take profit at 1889.77
Bearish Preference:
Enter a Sell position if price trades below 1843.81 with take profit at 1830.74
Fundamentals:
2:30pm USD CPI m/m
USD Core CPI m/m
Comment: Gold was up on Wednesday morning in Asia, with both the dollar and U.S. Treasury yields hitting the pause button in their recent rallies.
The U.S. economy could see a strong rebound in the second half of this year as vaccinations become widely available, but COVID-19 is still driving the economy and monetary policy will remain accommodative.
Analysis: SCRUM Team