Instrument: GOLDs
Bullish Preference:
Buy position is envisaged if price trades above 1928.90 with take profit at 1931.58
Bearish Preference:
Sell position is envisaged if price trades below 1925.83 with take profit at 1923.17
Fundamentals:
2:45pm
USD
Flash Services PMI
Flash Manufacturing PMI
Comment:
The last FOMC meeting which was released suggested that there will be a pause in the interest rate till next year though the tone was hawkish in nature and this has strenghtened the dollar
The US Dollar (USD) has reached a fresh six-month high.
We are currently approaching the festive season whereby people need to hold more cash than invest it. Gold and dollar works inversely
Analysis: SCRUM Team
