Ichimoku Analysis (Daily Chart)
Tenken-Sen- $1961.91
Kijun-Sen- $1955
Gold recovered sharply after hitting a low of $1939 on a weak US dollar. The US dollar index declines and hits 26.5 months low after dovish Fed policy. The central bank more stimulus for revival of the economy might drag the US dollar further down. The US GDP declined to -32.9% annualized slightly better than the estimate and continuing claims rose above 17 million.
US Dollar Index – bearish (positive for yellow metal)
S&P500- weak (negative for gold)
US Bond yield- weak (positive for gold)
Technical:
The yellow metal has formed an ascending triangle pattern in the hourly chart. Any violation above $1980 confirms further bullishness. A jump till $2000/$2025 possible.
The immediate support is around $1939, any indicative break beneath targets $1900/$1859.
It is good to stay away markets are overbought zone.


FxWirePro: USD/CAD slips after Fed holds rates steady
FxWirePro- Woodies pivot (Major)
FxWirePro: NZD/USD firms as Kiwi gains on strong ANZ business outlook data
JPY Pairs Action Bias: EURJPY Leads as Bullish Standout Amid Mixed Momentum
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD dips below lower range, bearish bias increases
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/JPY edges higher as focus shifts to BOJ decision
AUD/JPY Slips Below 112 as BOJ Intervention Sparks Bearish Momentum: Sell the Rallies
Buy the Dips on EUR/JPY: Bullish Structure Points to 188 Target Ahead of Fed
FxWirePro:EUR/NZD gains some upside momentum but still bearish
FxWirePro: GBP/USD edges lower ahead of Fed policy verdict
FxWirePro: USD/ CNY remains soft ahead of Fed decision
Major Forex Pairs Action Bias: GBPUSD and AUDUSD Turn Extremely Bearish
Major FX Action Bias & US Market Sentiment: NZD/USD (Extremely Bullish) & AUD/USD (Bullish) Watchlist
EURUSD Spikes to 1.14306 on Fed Pause as Traders Eye Sell-the-Rally Setup
FxWirePro: USD/ZAR firms ahead of Fed interest rate decision 



