Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1764.71 with take profit at 1766.54
Bearish Preference:
Sell position is envisaged if price trades below 1757.81 with take profit at 1756.32
Fundamentals:
1:30pm USD Unemployment Claims
Comment: The dollar held close to a 14-month high against the euro on Thursday, as a surge in energy prices raised the risk that the U.S. Federal Reserve would act sooner to normalise policy. The closely watched U.S. non-farm payrolls report on Friday could provide additional clues to the timing of the Fed’s next moves. Economists expect continued improvement in the labour market, with a consensus forecast for the addition of 473,000 jobs in September, a poll showed.
Analysis: SCRUM Team