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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1796.83 with take profit at 1800.22.
Bearish Preference:
Sell position is envisaged if price trades below 1783.72 with take profit at 1780.49.
Fundamentals:
USD 1:30PM Philly Fed Manufacturing Index
Unemployment Claims
Comment: The release of the minutes from the July Fed meeting on Wednesday, which showed the policymakers advanced plans to pull back the pace of their monthly asset purchases before the end of 2021 if the economy continued to improve as expected. his meeting occurred before August’s bumper nonfarm payrolls release and has raised expectations that Fed chair Jerome Powell will announce more details of the central bank’s tapering plan at the Jackson Hole symposium at the end of next week
Analysis: SCRUM Team
