MARKET OUTLOOK for GOLD/TRADE CALL

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Risk Events

US CPI data

Summary

Expect risk sentiment to worsen with US /China trade talks at a halt with the gap getting wider.

Trump is not helping the situation with constant talk of China needing to make a deal which will only make China dig in for a fight.

We expect safe havens to be demand in times of this dangerous and uncertain times

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GOLD(1336.10)

Recommendation : Buy dip (stop 1325) for a target of 1345

Resistance : 13740 / 1347 /1350

Support : 1330 / 1325 /1320

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TRADE CALL

USDYEN(108.33)

Sell usdyen with a stop 109

target at 107.20

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Fundamental analysis

Worsening risk sentiment with Trump still attacking the Fed will not help with Usd sentiment

Technical analysis

After some recovery we expect the usdyen to weaken.

Looking for a break below 107.70 to test low side of 107 with techs turning lower

A break back above recent high 108.80 will invalidate this call

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Disclaimer : Any data and information provided is for the sole purpose of assisting traders to make independent investment decisions and is not intended for trading purposes or advice. Goldfx Investment Co Ltd will not accept liability for any loss or damage.

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