Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1816.47 with take profit at 1819.86
Bearish Preference:
Sell position is envisaged if price trades below 1810.40 with take profit at 1806.69
Fundamentals:
01:30pm USD Core PCE Price Index m/m
USD Unemployment Claims
Comment:
European stock markets are expected to open lower Thursday, ending a tough month on a gloomy note, given concerns aggressive monetary tightening to curb inflation will cause a severe global economic slowdown. The major indices in Europe are on course to post significant losses this month with sentiment weak as the war in Ukraine shows no sign of ending anytime soon, the ECB is set to start raising interest rates to attempt to tackle soaring inflation and the economic recovery from the COVID pandemic struggles to take hold.
Analysis: SCRUM Team