Fundamentals for the Day
5.45 pm ADP Non Farm Employment Change
7.15 pm CAD – BOC Rate Statement & Overnight Rate Decision
7.30 pm US Factory Orders m/m
8.00 pm Crude Oil inventories
Yesterday,
U.S. air force striking Iranian targets around the Strait of Hormuz, U.S. officials say
Iranian reports say the Armed Forces have launched a military operation in response to U.S. strikes
US Strike Iran and Iran Retaliate US Bases goes Down move for Gold –
It’s Non Farm Week on Friday – Non Farm is expected strong US Dollar goes negative for Gold
Gold has break it’s all support level and continue moving downside from 4631$ in spot where High made 4697$.
OI will update in this report after 11.30 AM – so refresh the report @ 12 PM and check again for new updates
XAUUSD – Gold
Range: 4326$ – 4169$
Our Preference: Sell Gold @ 4326$ for target 4244$ & below 4230$ target extended 4170$
Add sell @ 4348$ Exit only above 4355$+ only if sustain
Alternative Scenario: Buy Gold @ 4167$+ for 4300$ with SL 4150$ below only if sustain
Gold move down more from it’s 50% of average support price 4320$ easily which shows next support price @ 4167$
Positional Trader will start or add Buy tomorrow evening as tomorrow is the last day of this Downside position
Trading Zone
4244$ Buy for session with SL 10$
4355$ will apply as Breakout Buy with SL 4340$
Silver
Range: 65.41$-59.61$
Our Preference: Sell Silver @ 64.40$ back up sell @ 65$ for target 61$ with SL 65.40$
Alternative Scenario: Sell Silver @ 62.40$ below for target 60$ with SL 63$+
Trading Zone
62.90$ Buy for Momentum with SL 0.30 Cent
