EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout 
FxWirePro: USD/ZAR sell bias remains below key resistance zone 
FxWirePro: GBP/AUD downside pressure builds, key support level in focus 
FxWirePro- Major Crypto levels and bias summary 
Aussie Yen Breaks 114 Barrier: Bulls Lock Horns With Resistance, Eyes on 115 Summit 
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95 
FxWirePro: GBP/NZD slide extends ,eyes 2.2600 level 
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates 
FxWirePro: USD/CAD slips as Canadian dollar firms on hopes for US-Iran ceasefire deal 
FxWirePro: USD/CAD bulls continue to hold the higher ground 
FxWirePro: GBP/NZD extends decline , vulnerable to more downside 
Ethereum Tumbles Below $2K: Bears Eye $1,700 as All Key EMAs Flip Red 
FxWirePro: USD/JPY edges higher but bulls lack punch 
FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets 
FxWirePro: USD/ZAR slips as SARB delivers surprise rate hike 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro- Major Pair levels and bias summary 
Ichimoku Analysis (4- Hour chart)
Tenken-Sen- $1944.01
Kijun-Sen- $1952.80
Gold traded weak for the second consecutive day on a strong US dollar It has gained momentum despite Fitch downgrading US. It has lowered the credit rating of the United States from AAA+ to AA+. It hits a low of $1933.30 and is currently trading around $1937.69.
US private sector employment increased by 324000 in Jul, compared to a forecast of 185000.
Major economic data for the day
Aug 3rd, 2023, BOE monetary policy (11 am GMT)
Unemployment claims (12 am GMT)
US ISM services PMI (2 pm GMT)
US dollar index- Bullish. Minor support around 100.60/99.50. The near-term resistance is 102.50/103.
According to the CME Fed watch tool, the probability of a no-rate hike in Sep increased to 82.50% from 78.70% a week ago.
The US 10-year yield gained sharply after upbeat US private sector jobs. The US 10 and 2-year spread narrowed to -78.10 from -110%.
Factors to watch for gold price action-
Global stock market- bullish (negative for gold)
US dollar index - Bullish (bearish for gold)
US10-year bond yield- Bearish (negative for gold)
Technical:
The near–term support is around $1930, a break below targets of $1920/$1900. The yellow metal faces minor resistance around $1940 and a breach above will take it to the next level of $1955/$1970/$1985.
It is good to sell on rallies around $1940 with SL around $1950 for TP of $1900.
