Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1816.53 with take profit at 1819.57.
Bearish Preference:
Sell position is envisaged if price trades below 1803.15 with take profit at 1799.32.
Fundamentals:
7:00 pm USD FOMC Meeting Minutes
Comment: Gold was up on Wednesday morning in Asia after hitting a three-week high during the previous session. A weakening dollar also gave the yellow metal a boost as investors await the minutes from the U.S. Federal Reserve’s latest policy meeting. The minutes from the Fed’s June 2021 meeting, due to be released later in the day, are expected to provide some clues to the central bank’s monetary policy moving forward. They could also shed some light on the Fed’s surprise hawkish turn in the policy decision handed down after that meeting.
Analysis: SCRUM Team