Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1785.97 with take profit at 1787.65.
Bearish Preference:
Sell position is envisaged if price trades below 1781.63 with take profit at 1779.97.
Fundamentals:
No major fundamental
Comment: Gold prices were down on Tuesday morning, but moves were small as investors await decisions from key central banks meetings. Around 20 central banks including the U.S. Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan, will hand down their respective policy decisions this week. The Fed will begin its two-day monetary policy meeting later in the day and hand down its policy decision on Wednesday, where it is expected to accelerate its asset tapering program. Investors will also look for clues about the timing of interest rate hikes in 2022.
Analysis: SCRUM Team