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Daily Market Analysis 10|09|2020: GOLD

Instrument: GOLD

Intraday: BULLISH

Technical Analysis

Preference: 
Buy position is envisaged if price trades above 1945.00 with take profit at 1950.00
Alternative scenario: 
Sell position is envisaged if price trades below 1939.00  with take profit at key level at 1933.00
Fundamentals:
Main Refinancing Rate 12:45 pm EUR
Monetary Policy Statement 12:45 pm EUR
ECB Press Conference 1:30pm EUR
Unemployment Claims

Comment: The strength of Gold came generally from a weakness in the dollar; this was after the ECB gave optimistic comments on the EURO. It is envisaged that this commodity trades bullish today.

Analysis: SCRUM Team

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