Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1800.65 with take profit at 1802.90.
Bearish Preference:
Sell position is envisaged if price trades below 1792.93 with take profit at 1791.07.
Fundamentals:
EUR 12:45PM Monetary Policy Statement Main Refinancing Rate
1:30PM ECB Press Conference
USD 1:30pm Unemployment Claims
4:00PM FOMC Member Daly Speaks
Comment: The dollar was hit hard by Friday’s disappointing jobs report, which the market took to suggest that the Federal Reserve’s tapering of its bond-buying program would be delayed. However, the mood has turned a little more risk averse since, with several Fed policymakers on Wednesday signaling the U.S. central bank remains on track to reduce asset purchases this year even while rising Covid cases suggested a slowing in economic growth.
Analysis: SCRUM Team