NZDJPY: Sell the Rallies as Bears Guard 90–91 Resistance Zone 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls 
FxWirePro: GBP/AUD dive post-CPI short-lived as traders prepare for BoE decision 
FxWirePro: AUD/USD struggle to extend its recovery,good to sell on rally 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
FxWirePro: NZD/USD dips as stronger U.S. dollar offsets NZ Q3 GDP surprise 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro: USD/JPY catches bid ahead of BoJ meeting 
FxWirePro: EUR/NZD steadies ahead of ECB meeting 
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains 
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1954.88
Kijun-Sen- $1961.09
Gold prices trade below $1950 on upbeat market sentiment. The Republic and Democratic leaders are optimistic about current negotiations and the deal to be finalized soon. hits a low of $1936.85 yesterday and is currently trading around $1947.92.
US Q1 GDP 2023 (second reading) came at 1.3% compared to a forecast of 1.1%. The number of people who have filed for unemployment benefits increased by 4000 in the week ending May 20, below the estimate of 249K.
Major economic data for the day
May 26th, 2023, US Core PCE index m/m (12:30 pm GMT)
Core Durable goods orders m/m (12:30 pm GMT)
Revised UoM consumer sentiment (2 pm GMT)
US dollar index- Bullish. Minor support around 102.30/101.50. The near-term resistance is 104.20/105.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in June increased to 37.8% from 35.6% a week ago.
The US 10-year yield jumped more than 2% yesterday on our debt deal optimism. The US 10 and 2-year spread narrowed to -71% 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- Bullish (Bearish Mixed for gold)
Technical:
The near–term support is around $1935, a break below targets of $1920/$1900.The yellow metal faces minor resistance around $1955, and a breach above will take it to the next level of $1970/$2000/$2020/$2040/$2070/$2100/$2150.
It is good to sell on rallies around $1955 with SL around $1970 for TP of $1920/$1900.
