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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1757.42 with take profit at 1760.91
Bearish Preference:
Sell position is envisaged if price trades below 1745.09 with take profit at 1742.53
Fundamentals:
1:15PM USD ADP Non-Farm Employment Change
Comment: Gold was down on Wednesday morning in Asia as the dollar strengthened and U.S. Treasury yields rose. The focus will also be on the latest U.S. jobs report, due later in the week. The jobs report, including non-farm payrolls, is due on Friday and will be critical in determining the U.S. Federal Reserve’s timeline to begin asset tapering.
Analysis: SCRUM Team
