Daily Market Analysis 14/10/2021: GOLD

Daily Analysis / Online Education

Daily Market Analysis 14/10/2021: GOLD

Instrument: GOLDs

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1797.13 with take profit at 1799.55
Bearish Preference: 
Sell position is envisaged if price trades below 1789.72 with take profit at 1787.75
1:30pm USD PPI m/m
             USD Core PPI m/m
            USD Unemployment Claims

Comment: The dollar slide continued Wednesday following consumer price index data that showed a continued rise in prices, increasing market expectations for a potential rate hike. The news has seen the dollar weaken against all of the other major currencies on Wednesday, with the dollar index, which measures the currency against a basket of foreign currencies, falling over 0.4% and moving lower from the 13-month high it posted earlier this week.

Analysis: SCRUM Team

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