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Daily Market Analysis 16|12|2020: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference: 
Buy if price trades above 1859.28 with take profit at 1862.15.
Bearish Preference: 
A sell is envisaged when price trades below 1849.26 with take profit at 1847.91.
Fundamentals:
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
3:45pm USD Flash Manufacturing PMI

Comment: Gold was up on Wednesday morning in Asia, with investors monitoring progress on U.S. stimulus measures and the Federal Reserve’s policy decision. The rapid progress in COVID-19 vaccine rollouts is also sparking hopes for a quick economic recovery.

Analysis: SCRUM Team

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