Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1887.11 with take profit at 1894.10
Bearish Preference:
A Sell position is envisaged if the price trades below 1873.69 with take profit at 1866.37
Fundamentals:
No high-impact news affecting the instrument.
Comment:
European stock markets are expected to edge higher at the open Thursday, as investors digested the latest German inflation data as well as the continuation of the quarterly corporate earnings season. Investors, both in Europe and the U.S., have been searching for signs that inflation is peaking, so central bankers can start reining in their aggressive interest rate hikes. Across the pond, Federal Reserve Chair Jerome Powell struck a less hawkish tone than feared on Tuesday. But a number of his colleagues, including Fed Governor Christopher Waller, were keen to emphasize Wednesday that the central bank is yet to be finished with its hiking cycle, saying “we have farther to go” to fight inflation.
Analysis: SCRUM Team
