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Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1742.72 with take profit at 1744.94.
Bearish Preference:
A Sell position is envisaged if price trades below price 1735.66 with take profit at 1732.75.
Fundamentals:
4:45pm USD Fed Chair Powell Speaks
Comment: Gold was up on Wednesday morning in Asia, remaining near a seven-week low. A dollar near ten-month highs and rising U.S Treasury yields also applied pressure on the safe-haven asset, with expectations of an earlier-than-expected interest rate hike.
Analysis: SCRUM Team
