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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1838.34 with take profit at 1840.11
Bearish Preference:
Sell position is envisaged if price trades below price 1828.94 with take profit at 1825.96
Fundamentals:
3 PM USD Manufacturing PMI
USD JOLTS Job Openings
6pm USD Bullard Speaks
Comment:
U.S. President Joe Biden met with the U.S. Fed Reserve Chairman Jerome Powell on Tuesday with historic inflation. Biden stressed that he respects the central bank’s independence but also affirmed a “laser focus on addressing inflation” ahead of the November midterms. To combat inflation, the Fed will start shrinking its $8.9 trillion balance sheet and release its Beige Book later in the day.
Analysis: SCRUM Team
