Crypto Bias Report: Trend Signals and Top Bullish Picks 
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades 
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97 
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: USD/ZAR retreats slightly but bias is bullish 
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks 
FxWirePro:USD/JPY hovers near a four-decade low 
FxWirePro- Major Crypto levels and bias summary 
AUDJPY Extends Four-Day Rally as Yen Weakness Fuels Fresh Buying Opportunity 
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25% 
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise 
FxWirePro- Woodies pivot (Major) 
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus 
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $2014.82
Kijun-Sen- $2024.62
Gold prices consolidating in a narrow range between $2022 and $2001 for the past two days. The standoff in US debt ceiling negotiations supporting the yellow metal at lower levels. Markets eye US debt limit extension talks between the white house and Congress. It hits an intraday high of $2022.15 and is currently trading around $2016.36.
The US empire state manufacturing index fell 42.6 points to negative 31.80 numbers.
Major economic data for the day
May 16th, 2023, US retail sales (12:30 pm GMT)
US dollar index- Bullish. Minor support around 102.30/101.50. The near-term resistance is 102.80/103.40.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in June increased to 21.90% from 15.5% a week ago.
The US 10-year yield trading in a narrow range ahead of US retail sales. The US 10 and 2-year spread narrowed to -50.5% from -108%.
Factors to watch for gold price action-
Global stock market- bullish (negative for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Mixed (neutral for gold)
Technical:
The near–term support is around $2000, a break below targets of $1970/$1955/$1935.The yellow metal faces minor resistance around $2040, and a breach above will take it to the next level of $2070/$2100/$2150.
It is good to buy on dips around $1970 with SL around $1950 for TP of $2070/$2100.
