Daily Market Analysis 28.01.2022: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1792.61 with take profit at 1795.51 .
Bearish Preference: 
Sell position is envisaged if price trades below 1779.41 with take profit at 1776.91.
USD: 2:30PM Core PCE Price Index m/m
4PM Revised UoM Consumer Sentiment 

Comment: Gold was down on Friday morning in Asia, moves remained small and the yellow metal was headed for its sharpest weekly decline since November 2021. Investors continue to digest the U.S. Federal Reserve’s policy latest policy decision that drove the dollar to a multi-month high.

Analysis: SCRUM Team

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