Instrument: GOLD
Bullish Preference:
A Buy position is envisaged if the price trades above 2041.32 with take profit at 2048.82
Bearish Preference:
A Sell position is envisaged if the price trades below 2005.90 with take profit at 1992.64
Fundamentals:
2:15pm USD ADP Non-Farm Employment Change
Comment:
Gold prices moved little in Asian trade on Wednesday after falling sharply from record highs this week, with traders now seeking more cues on when the Federal Reserve will begin trimming interest rates.
A softer-than-expected JOLTs job openings reading for October pushed up some hopes over a cooling labor market. But focus remained squarely on an upcoming nonfarm payrolls reading for November, due this Friday.
Analysis: SCRUM Team