Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1797.48 with take profit at 1799.90.
Bearish Preference:
Sell position is envisaged if price trades below 1790.36 with take profit at 1788.37.
Fundamentals:2:30pm USD Prelim GDP q/q USD Unemployment Claim
4:00pm USD Core PCE Price Index m/m
8:00pm USD FOMC Meeting Minutes
Comment: The greenback stays resilient against its major rivals mid-week as the benchmark 10-year US Treasury bond yield holds above 1.6%. The price of gold fell for a fifth straight session, dropping to its lowest level in about three weeks, breaching the psychologically important value of $1,800 an ounce again.
Analysis: SCRUM Team