Analyst
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1.13594 with take profit at 1.13383.
Alternative scenario: Buy position is envisaged if price trades above 1.13850 with take profit at 1.14159.
No major economic data with direct bearing on the pair
Comment: The greenback surged after President Donald Trump announced that there will be a press conference later today to highlight the economic measures of his government in response to the deadly Coronavirus.
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1658.32 with take profit at 1641.44.
Alternative scenario: Buy position is envisaged if price trades above 1666.94 with take profit at 1677.71.
No major economic data with direct bearing on the yellow metal
Comment: The commodity has closed below a bullish channel on the H4 timeframe and is envisaged to continue bearish. The expected easing measures from governments around the world is also envisaged to weigh on demand for gold.
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