FxWirePro: EUR/JPY 6-day bearish streak finds support at 55-EMA, break below eyes trendline support at 124.55
FxWirePro: USD/JPY grinds sideways at trendline resistance, US dollar barely moves in response to Biden's aggressive stimulus plan
FxWirePro: Gold Daily Outlook
Ichimoku analysis (Daily chart)
Gold hits 4-month low on hopes of US stimulus and vaccine optimism. The global stock market is surging sharply on upbeat market sentiment. US indices especially, Dow Jones hits 30000 for the first time. Short term trend is still on the weaker side as long as resistance $1900 holds. The US 10-year yield recovered nearly 10% after declining more than 15%.
US Conference Board Consumer confidence came at 96.1 in November compared to an estimate of 97.70.
The intraday resistance to be watched is $1817, any violation above targets $1830/$1841/$1860.On the lower side, near term support is around $1796 (200- day MA) and any indicative break below that level will take till $1770/$1763.
It is good to sell on rallies around $1820-21 with SL around $1832 for the TP of $1765.