Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1717.06 with take profit at 1719.38
Bearish Preference:
A Sell position is envisaged if price trades below price 1708.05 with take profit at 1705.36
Fundamentals:
1:00pm USD FOMC Member Mester Speaks
1:15pm USD ADP Non-Farm Employment Change
Comment:
Gold prices fell on Wednesday and were set for a fifth straight month of losses amid fears of aggressive policy tightening by the Federal Reserve, while copper rose as Chinese manufacturing activity improved slightly in August.
Analysis: SCRUM Team