Ichimoku Analysis (4-hour Chart)
Tenken-Sen- $1720
Kijun-Sen- $1700
Gold has once again declined after hitting a high of $1735. The surge in the US dollar index is putting pressure on yellow metal at a higher price. The major factors to be watched are
Coronavirus
The total number of people infected due to coronavirus rose to 2725920 with the U.S is in the top with 886709 and four major European economies like Spain, Italy, Germany, and France at 213024,189973, 158183 and 153219.
US Market:
US stocks especially Dow Jones and S&P500 lost more than 2.5% due to increasing Coronavirus.
Bond Yield
US 10-year yield has shown a minor recovery of more than 5% from a low of 0.568%. The spread between US-2 and 10-year narrowed to 37bps from 72 bps.
Technicals:
On the flip side, near term support is at $1695 (55- 4H EMA), and any violation beneath will drag the yellow metal down till $1665/$1646/$1625.
The immediate resistance is around $1740, any indicative break beyond targets $1760/$1799.
It is good to buy on dips around $1695-$1700 with SL around $1680 for the TP of $1750.


Aussie Bulls Charge: AUD/JPY Rallies as Geopolitical Clouds Part
Bitcoin's Tug-of-War: Bulls Eye 80,000 USD Despite Turbulent ETF Outflows
FxWirePro: USD/CNY drifts lower, vulnerable to more downside
FxWirePro:NZD/USD jumps as RBNZ warns of higher OCR potential
FxWirePro: AUD/USD slips amid wavering risk sentiment
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/ NZD consolidating around 2.0200, room for further gains
NZD/JPY Rockets as Kiwi Dollar Resilience Defies the Oil Shock
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/USD stuck in range but maintains bearish bias
FxWirePro: EUR/AUD eases as market awaits Iran deadline
FxWirePro: NZD/USD neutral in the near-term, scope for downward resumption
FxWirePro: EUR/ NZD downside pressure builds, key support level in focus
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/NZD reverses course, bias back to downside
FxWirePro- Major European Indices
FxWirePro: GBP/AUD downtrend extends, eyes 1.8900 evel 



