Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1969.1 with take profit at 1971.7
Bearish Preference:
A Sell position is envisaged if the price trades below 1962.1 with take profit at 1959.0
Fundamentals:
6PM USD Fed Chair Powell Speaks
Comment:
U.S. stocks ended lower on Monday as investors shifted gears after considering the possibility that the U.S. Federal Reserve may take longer to start cutting interest rates. Traders are keeping a close eye on speeches by Fed officials this week, including Chair Jerome Powell on Tuesday, for any change in the central bank’s rhetoric after data last week showed services activity was strong in January as well as strong job growth.
Analysis: SCRUM Team
