FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro: GBP/AUD moves lower on weak UK data 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
Overall trend - bearish
Gold is consolidating in narrow range between $1211 and $1234.95 for past three trading session. It is currently trading around $1221.
The major three factors to be watched for gold price movement are
- US Dollar index – neutral (neutral for gold)- DXY has shown a minor jump of more than 40 pips from the low of 94.16. DXY is trading in narrow range and market awaits US fed meeting for further direction.The index has formed temporary top around 95.65. It is currently trading around 94.59.
- USD/JPY- bullish (negative for gold)- It is showing a minor correction after hitting high of 111.85. It is trading well above 20- day MA and is expected to reach till 113. It is currently trading around 111.85.
- US 10 –year yield – 2.97% (jumped more than 2% from yesterday’s low of 2.92%). Markets await US fed monetary policy.
- US 2 year yield 2.669% (0.60% lower). The spread between 2 year and 10 year yield (2.97%-2.66%) is 31 basis point slightly decreased from 34 basis point.
The pair is facing strong support at $1217 and any break below will take the yellow metal till $1209/ $1200 (61.8% fib)/$1160.
The near term resistance is around $1240 (20-day MA) and any convincing break above will take the yellow metal till $1250/$1260.
It is good to sell on rallies around $1228-30 with SL around $1237 for the TP of $1201/$11
