Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1786.78 with take Profit at 1789.33
Bearish Preference: Sell position is envisaged if price trades below 1778.03 with take Profit at 1775.84
Fundamentals:
1:30pm USD Empire State Manufacturing Index
Comment:
The safe-haven U.S. dollar rose on Monday after a new batch of disappointing Chinese data bolstered global recession worries, while the yuan weakened following a surprise key rate cut by the People’s Bank of China.
Analysis: SCRUM Team