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Daily Market Analysis 20.06.2022: GOLD

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

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