Pound Under Pressure as Yen Stabilizes: GBPJPY Bears Target 208 as Key EMAs Hold Resistance 
Aussie Retreats Against the Yen: AUDJPY Bears Target 108 as 110 Resistance Holds Firm 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: EUR/AUD gaining momentum for a move towards 1.6800 level 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: EUR/ NZD consolidating around 2.0180 room for further gains 
NZDJPY Bears Take Control: New Zealand Dollar Retreats as 92 Resistance Holds Firm 
FxWirePro: GBP/USD recovers but bears are not done yet again 
FxWirePro: USD/CNY gains some ground but bearish outlook persists 
FxWirePro: USD/JPY firms as Trump's address on Gulf war spark fresh concerns 
Euro Retreats as Geopolitical Tensions Surge: EURUSD Eyes 1.1400 Floor Amid Safe-Haven Demand 
EUR/JPY Bulls Charge: Eyeing 186.00 as Euro Strength Intensifies 
FxWirePro: AUD/USD downside pressure builds, key support level in focus 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: GBP/USD outlook weaker on renewed downside pressure 
Technical Glance: Well, gold (XAUUSD price) has continued to sense buying sentiments after testing supports at $1,291.72 levels (i.e. 7-DMAs), the formation of “hammer and 3-white soldier pattern candlesticks” has stimulated bullish environment.
Hammer occurred at $1,201.95 and $1,238.07 levels, 3-white soldier occurred at $1,293.10 level on daily plotting. Consequently, bulls have taken-off rallies above DMAs, the ongoing bullish rallies are most likely to test the stiff resistance at $1,298.50 levels.
More rallies likely as the technical indicators (both momentum and trend oscillators) on this timeframe, are in conformity to the prevailing uptrend. DMAs and MACD also show bullish crossover that indicate upswings to prolong further.
The major trend resume consolidation phase after the formation of hammer patterns at the double top neckline (refer monthly plotting). As a result, the current price on this timeframe, has spiked above EMAs with most likely bullish crossover. Both RSI and stochastic curves, also converge upwards to the upswings.
Trading tips:At spot reference: $1,292 level, on trading grounds, as stochastic curves are in overbought territory, to participate in the current uptrend one can trade this commodity with boundary options with upper strikes at 1,299 and lower strikes at 1285 levels. The strategy is likely to fetch leveraged yields as long as the underlying price remains between above strikes on the expiration.
Alternatively, on hedging grounds, we advocated long positions in CME gold contracts for Jan’19 delivery, when the underlying was trading at $1,280/oz. We now continue to hold onto the same strategy by rolling over the contracts to February delivery as we could foresee more upside risks.
Currency Strength Index: FxWirePro's hourly EUR is at 101 (bullish), hourly USD spot index is inching towards -57 levels (bearish), while articulating at 12:03 GMT.
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
