FxWirePro: GBP/USD stays below 1.3400 level following cooler inflation report 
FxWirePro: EUR/ AUD downtrend loses steam, remains on bearish path 
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish 
FxWirePro:NZD/USD edges higher as kiwi firms on hawkish RBNZ outlook 
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise 
FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish 
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption 
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades 
FxWirePro:USD/JPY hovers near a four-decade low 
NZDJPY Dips Create Fresh Buy Opportunity as Key Support Holds 
FxWirePro: GBP/NZD gains some upside momentum but still bearish 
Major Pairs Bias: USDCHF Bullish While GBPUSD Turns Bearish 
FxWirePro: USD/CAD retreats slightly but trend is still bullish 
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path 
FxWirePro: GBP/AUD bears maintain upper hand 
FxWirePro:USD/JPY holds above 163 as intervention fears keep traders on edge 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1974.34
Kijun-Sen- $1975.47
Gold price trades higher on geopolitical tension. It hit a high of $1988.28 yesterday and is currently trading at around $1988.31.
The escalation of tension between Israel and Hamas for 20th day with more than 6500 killed in Gaza and wounded more than 17400. The decrease in demand for riskier assets supports the yellow metal at lower levels.
US new home sales jumped to a 19-month high of 759K in Sep compared to a forecast of 680K.
Major Economic data for the day
Oct 26th 2023, US Advance GDP q/q (12:30pm GMT)
Core Durable goods orders m/m (12:30 pm GMT)
ECB press conference (12:45 pm GMT)
US dollar index- Bullish. Minor support around 105/104.50. The near-term resistance is 107.50/109.
According to the CME Fed watch tool, the probability of a no-rate hike in Nov increased to 93.40% from 98.80% a week ago.
The US 10-year yield recovered after upbeat US home sales data. The US 10 and 2-year spread narrowed to -14.60% from -75%.
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 $1975, a break below targets of $1960/$1950/$1926. The yellow metal faces minor resistance around $2000 and a breach above will take it to the next level of $2020/$2048.
It is good to buy on dips around $1970-72 with SL around $1960 for TP of $2000/$2020.
