Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1773.79 with Take Profit at 1777.48
Bearish Preference:
Sell position is envisaged if price trades below price 1762.08 with Take Profit at 1758.43
Fundamentals:
3:00pm USD JOLTS Job Openings
USD ISM Services PMI
7:00pm USD FOMC Meeting Minutes
Comment:
Gold hovered near a fresh seven-month low on Wednesday, with the dollar perched at a two-decade peak, as investors continued to snub bullion and look to the greenback for safety amid growing anguish over a worsening global economic outlook. Meanwhile, the U.S. Federal Reserve will release minutes from its June policy meeting later in the day, which could give investors a clearer picture on the roadmap for interest rates.
Analysis: SCRUM Team
