Ichimoku Analysis (4-Hour Chart)
Tenken-Sen- $1738.30
Kijun-Sen- $1742.97
Gold price showed a minor pullback on US dollar weakness. US dollar index pared some of its gains after hitting a multi-year high on profit booking. The overall trend of the precious metal is still bearish on hawkish Fed chairman Powell's speech and surging US bond yields.
Markets eye US CB Consumer confidence and JOLTS job opening for further direction.
According to the CME Fed watch tool, the probability of a 75 bpbs rate hike in Sep rose to 70.5% from 55% a week ago.
Factors to watch for gold price action-
Global stock market- Bearish (positive for gold)
US dollar index – Bullish (Negative for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $1720, a breach below targets $1700/$1650. Significant reversal only below $1650. The yellow metal faces minor resistance around $1760, breach above will take it to the next level of $1775/$1800/$1820.
It is good to sell on rallies around $1748-50 with SL at around $1771 for TP of $1700/$1650.


FxWirePro: EUR/NZD steadies ahead of ECB meeting
FxWirePro: GBP/NZD remains bullish as rally continues
EUR/USD Surges Past 1.1765 on Dismal US Jobs Data: Bullish Momentum Builds with Eyes on 1.1900
AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100
FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data
EUR/JPY Bearish Outlook Persists: Ifo Weakness Caps Upside, Sell Rallies Targeting 180 Below 183 Resistance
NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88
FxWirePro: AUD/USD runs out of steam but maintains bullish outlook
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
FxWirePro- Major Crypto levels and bias summary 



