Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1899.30 with take profit at 1901.34
Bearish Preference:
A Sell position is envisaged if the price trades below 1891.02 with take profit at 1888.54
Fundamentals:
4:00pm USD Prelim UoM Consumer Sentiment
Comment:
The dollar fell to its lowest level in seven months, while bond yields stabilized after falling sharply on Thursday, as another drop in U.S. headline inflation emboldened hopes of a quick end to interest rate hikes from the Federal Reserve, and even a first cut in the second half of the year.
Analysis: SCRUM Team
