FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: GBP/USD dips lower on negative UK retail sales data 
FxWirePro- Woodies Pivot(Major) 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
FxWirePro- Major Pair levels and bias summary 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1924.97
Kijun-Sen- $1917.24
Gold prices pared some of their gains on hawkish FOMC meeting minutes. The minutes showed that all Fed officials agreed to rate pause at the June meeting and more rate hikes this year. It hits a low of $1914.78 and currently trading around $1919.54.
Major economic data for the Day
Jul 6th, 2023, US ADP employment (12:15 pm GMT)
US ISM services PMI (2:00 pm GMT)
US dollar index- weak. Minor support around 101.80/101. The near-term resistance is 103.60/104.40.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in July increased to 88.70% from 81.80% a week ago.
The US 10-year yield surged sharply after hawkish Fed meeting minutes. The US 10 and 2-year spread narrowed to -100% from -110%.
Factors to watch for gold price action-
Global stock market- bullish (negative for gold)
US dollar index - mixed (neutral for gold)
US10-year bond yield- Bullish (Bearish for gold)
Technical:
The near–term support is around $1900, a break below targets of $1890/$1878/$1868/$1850.The yellow metal faces minor resistance around $1936; a breach above will take it to the next level of $1942/$1950/$1955.
It is good to sell on rallies around $1928-30 with SL around $1950 for TP of $1878.
