Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1790.96 with take profit at 1792.96.
Bearish Preference:
Sell position is envisaged if price trades below 1784.80 with take profit at 1782.80.
Fundamentals:
1:30pm USD Core Durable Goods Order
Comment: It appears that gold is struggling to maintain gains above USD 1800.00. It appears that despite longer-dated yields easing in the US, the rise of the short-dated yields and the flattening of the US yield curve is weighing on gold, as is the US dollar’s quiet, but firm strength this week.
Analysis: SCRUM Team