Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy is envisage if price trades above 1793.55 with take profit at 1795.56.
Bearish Preference:
Sell is envisaged if price trades below 1787.56 with take profit at 1785.48.
Fundamentals:
1:30pm USD Unemployment Claims
Comment: Gold will likely stage a breakout one way or the other post the US Non-Farm Payrolls. The topside is more likely to capitulate as predictions of a one million-plus jobs added has become a very crowded trade. An on-expectation release could see both US yields and the US dollar head lower, lifting gold through USD1800.00 an ounce
Analysis: SCRUM Team
