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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1862.43 with take profit at 1864.25
Bearish Preference:
Sell position is envisaged if price trades below 1855.26 with take profit at 1853.52
Fundamentals:
1:30pm USD Prelim GDP q/q
Comment:
The dollar edged higher on Friday but was on track for its biggest weekly drop in nearly four months as traders lowered Federal Reserve rate hike expectations amid signs the U.S. central bank might slow or even pause its tightening cycle in the second half of the year.
Analysis: SCRUM Team
