EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout 
USD/CHF Smashes Higher to 0.7899 on Dollar Dominance—Bulls Bet on 0.7865 Dips for 0.8000 Breakout 
FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets 
FxWirePro: EUR/AUD downward momentum remains in place 
FxWirePro: GBP/USD recovers some ground but bears are not done yet 
FxWirePro: USD/JPY edges higher but bulls lack punch 
FxWirePro- Major Crypto levels and bias summary 
Ethereum Tumbles Below $2K: Bears Eye $1,700 as All Key EMAs Flip Red 
FxWirePro: USD/CAD bulls continue to hold the higher ground 
FxWirePro: USD/ZAR sell bias remains below key resistance zone 
FxWirePro: GBP/AUD downside pressure builds, key support level in focus 
FxWirePro: NZD/USD gains as hawkish RBNZ comments boost Kiwi dollar 
FxWirePro- Major Crypto levels and bias summary 
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95 
FxWirePro- Woodies pivot (Major) 
FxWirePro: USD/CAD slips as Canadian dollar firms on hopes for US-Iran ceasefire deal 
Pound-Yen Roars Back Above 214: Bulls Reload for 216–217 Charge on Dip-Buying Setup 
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2374.63
Kijun-Sen- $2364.82
Gold gained momentum on board-based US dollar selling. It hit a high of $2397 yesterday and is currently trading around $2388.46.
US economic data -
US CPI- weak (positive for gold)
US retail sales- weak (Positive for gold)
Major economic data for the day
May 15th, 2024, US CPI, retail sales (12:30 pm GMT)May 16th, 2024, US jobless claims, Building permits, Philly Fed Manufacturing Index (12:30 pm GMT)
According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 97.3% from 91.3% a week ago.
US dollar index- Bearish. Minor support around 104.50/103.75. The near-term resistance is 106/107.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bearish (positive for gold)
US10-year bond yield- Bearish (positive for gold)
Technical:
The near–term support is around $2368, a break below the targets of $2345/$2320/$2300. The yellow metal faces minor resistance around $2360 and a breach above will take it to the next level of $2375/$2400/$2420/$2450.
It is good to buy on dips around $2370-75 with SL around $2350 for TP of $2450
