Major intraday support - $1480
The gold price continues to trade higher and jumped nearly $40. The yellow metal is still in bullish mode due to the increase in the Safe-haven demand on the US-China trade war. US 10 year yield declined more than 7% from the previous week close 1.75%. According to the CME Fed Watch tool, the probability of 25 bps has decreased to 82.3% from 84.6% and the chance of 50 bps jumped to 17.7% from 15.4%. It is currently trading around $1520.
On the higher side, near term resistance is around $1520-25 and any violation above will take the yellow metal till $1540/$1585.
The near term major support is around $1480 and any break below will drag the gold till $1462/$1455/$1440.
The market is in the overbought zone with RSI at 76 (bearish divergence) so minor dip till $1440-50 is possible.
It is good to buy on dips around $1460-65 with SL around $1440 for the TP of $1525.


FxWirePro: NZD/USD consolidates overnight gains, but loses momentum
FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus
NZDJPY Retreats on Yen Strength – Bearish Setup Targets 90 After Hitting 92.75 Low
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
Major European Indices Score Extremely Bullish: DAX Eyes 26000, CAC Targets 8600, FTSE100 at 11000 – Key Levels to Watch
FxWirePro: GBP/USD rises as soft US data pressures dollar
FxWirePro: USD/CNY dips to hit three year low,scope for further downside
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD gains some ground but outlook is bearish
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target 



