Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1787.31 with take profit at 1789.49.
Bearish Preference:
Sell position is envisaged if price trades below 1781.19 with take profit at 1779.19.
Fundamentals:
1:30pm USD Unemployment Claims.
Comment: The dollar was consolidating at lower levels in early trade in Europe on Thursday, after the revival of some concerns over China’s real estate crisis interrupted the momentum of higher-yielding currencies. The dollar index, which tracks the greenback against a basket of advanced market economies, was up 0.1% at 93.62, still stuck more than half a percentage point from where it started this week.
Analysis: SCRUM Team