Fundamentals for the Day
All Day Euro Summit
6.00 pm Challenger Jobs cut Y/Y
6.45 pm EUR Refinancing Rate
Monetary Policy Statement
7.00 pm Unemployment Claims
Revised Non Farm Productivity & Unit Labor Cost q/q
7.15 pm ECB Press Conference
FOMC Member Harker Speaks
9.00 pm Natural Gas Storage
‘Tariff war, a trade war or any other type of war’ — China says it’s ready to fight U.S. until the end
- China Import Soyabean & other Agriculture on very High Volume where it will next buy from Argentina & Brazil - this means the effect of this Tariff is not apply to Gold which will not impact for upside.
- Trump grants auto tariff pause, tariffs on Canada remain after call with Trudeau
- Gold has a very limited upside now Effect of Tariff war is continue but we believe just be ready for a Good sell now
- Gold is tired of running now taking a breath, there is no much of a heat has been left more than 40$ to 50$ in Gold for upside
Gold
Range: 85500 - 86900
- Momentum Buy GOLD 85950 target 86500 with SL 120 point
Our Preference: Buy Gold 85550 target 86800 with SL 200 point
Alternative Scenario: Sell GOLD 86900 for target 85500 with SL 200 point
- Positional Trader will be ready for sell near 87000 to 87300 with SL 87400+ only if Sustain for target 82000 As upside is very limited now
Silver
Range: 96800 -99500
Momentum Buy 97700 target 98500 with SL 150 point
Our Preference: Buy Silver 97250 with back up buy 96850 target 99000 with SL 96600
Alternative Scenario: Sell Silver @ 99500 with SL 100000+ only if sustain for target 97500