Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1780.02 with take profit at 1782.27.
Bearish Preference:
Sell position is envisaged if price trades below 1771.91 with take profit at 1769.54.
Fundamentals:
USD 1:30 PM Unemployment Claims
3:30 PM ISM Manufacturing PMI
Comment: The dollar was headed for its biggest monthly rise since November 2016, as investors turned to the safe-haven currency betting that a good Friday jobs report will strengthen the U.S. Federal Reserve’s hawkish tilt. We believe markets are reassessing the U.S. outlook as key data this week are expected to show a strong economy as we move into (the second half),” wrote analysts at Brown Brothers Harriman. This stands in contrast to many other parts of the world, where lagging vaccine rollouts are allowing the Delta variant to quickly spread, forcing some to go back into lockdown.”
Analysis: SCRUM Team