Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1914.86 with take profit at 1916.49
Bearish Preference:
A Sell position is envisaged if the price trades below 1910.22 with take profit at 1907.95
Fundamentals:
4PM USD CB Consumer Confidence
Comment:
Gold prices retreated on Tuesday, coming under pressure from a stronger dollar as caution kicked in ahead of a Federal Reserve meeting this week, while broader metal markets also ticked lower. The yellow metal marked a slow start to the week ahead of the conclusion of a two-day Fed meeting on Wednesday, where the bank is widely expected to raise interest rates by 25 basis points.
Analysis: SCRUM Team
