Ichimoku analysis (8-hour)
Tenken-Sen- $1578
Kijun-Sen- $1570
Gold continues to trade higher and jumped more than $20 from a low of $1581. The outbreak of coronavirus has increased the demand for safe-haven assets like the gold, yen. The total number of people died has increased to 2000 and the number of infected cases crossed 75000.
The US 10 year bond yield has halted its 1 -week of the bullish trend and trading weak for the past 3 days after forming a top around 1.64%. The spread between US 10- year and 2 years has narrowed to 14 bps from 27 bps.
The near term resistance is around $1611 (Jan 8th high), any violation over targets $1625/$1640. On the flip side, the immediate support is at $1591 (23.6% fib) and any breach will drag the gold underneath till $1578/$1555 likely. Extreme bearishness only under $1535.
It is good to buy on dips around $1580-81 with SL around $1570 for the TP of $1640.


FxWirePro: USD/JPY firms as Trump's address on Gulf war spark fresh concerns
Bitcoin Recovers Amid Easing Geopolitics: Bulls Target USD 80,000 Support Rebound
FxWirePro: USD/ZAR fibo rejection triggers sizeable pullback
Bitcoin Battles Volatility: Institutional Support Eyes USD 64,000 Floor Amid Geopolitical Tensions
FxWirePro:NZD/USD drifts lower, could be on verge of bigger drop
FxWirePro: NZD/USD cautiously bid as traders sense end to Iran war
Aussie Retreats Against the Yen: AUDJPY Bears Target 108 as 110 Resistance Holds Firm
Yen Resurgence Drives GBPJPY to 2.5-Week Low: Sellers Aim for 208.00
FxWirePro: EUR/AUD gaining momentum for a move towards 1.6800 level
FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: USD/CAD runs out of steam but maintains bullish outlook
FxWirePro: GBP/NZD range to extend until there is game changing news
NZDJPY Technical Outlook: Bearish Bias Deepens as Key Resistances Hold
Ethereum Rises on Geopolitical De-escalation: Pezeshkian’s Peace Signal Ignites Bullish Momentum
FxWirePro- Major European Indices 



