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Daily Market Analysis 11.02.2022: GOLD

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Instrument: GOLD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1829.44 with take profit at 1831.46.
Bearish Preference: 
Sell position is envisaged if price trades below 1824.48 with take profit at 1822.79 .
Fundamentals:
4:00pm USD Prelim UoM Consumer Sentiment

Comment: 
The dollar rose Asia on Friday after hotter-than-expected U.S. inflation and hawkish comments from a Federal Reserve official unleashed a wave of bets on aggressive rate hikes, though similar pressures worldwide kept a lid on gains.

Analysis: SCRUM Team

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