Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1846.53 with take profit at 1848.49
Bearish Preference:
Sell position is envisaged if price trades below 1837.08 with take profit at 1835.10
Fundamentals:
No Major Fundamental
Comment:
Gold was up on Monday morning in Asia as the U.S. dollar weakened ahead of a U.S. holiday. Gold wrapped up the previous week lower on a stronger dollar over interest rate hikes by major central banks. The U.S. Federal Reserve announced Wednesday an interest rate hike of 75 basis points, the biggest since 1994.
Analysis: SCRUM Team