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Instrument: Gold
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1694.77 with take profit at 1698.74
Bearish Preference:
Sell position is envisaged if price trades below 1687.90 with take profit at 1684.79
Fundamentals:
1:30pm USD Philly Fed Manufacturing Index
USD Unemployment Claims
Comment:
Gold Down and fell to the lowest in nearly a year as investors expect interest rate hikes by major central banks to curb soaring inflation. The U.S. Federal Reserve is widely expected to raise interest rates by 75 basis points at its July 26-27 policy meeting.
Analysis: SCRUM Team
