FxWirePro- Gold Daily outlook

Ichimoku analysis (4-Hour chart)

Tenken-Sen- $1741.35

 Kijun-Sen- $1752.07

Gold is trading below a significant support level of $1740 on US dollar strength. The US treasury yield surged after Janet Yellen. She said that government would run out of cash by Oct 18th if Congress fails to raise the debt ceiling.  The overall trend is still on the downside as long as resistance $1835 holds.  The factors dragging the gold prices are 
USDJPY- 
The yen and gold are 90% positively correlated to each other. USDJPY hits fresh YTD high on upbeat market sentiment and a strong dollar. Any close above 111.65 confirms a major uptrend.

US Dollar index-
DXY is holding above trend line resistance and a jump till 94.10 is possible. 

US 10-year yield- It continues to trade higher for the third consecutive week and surged more than 7% from the previous week's close.

Technical:
The immediate resistance is around $1760, a convincing break above will take the yellow metal $1775/$1780/$1787 if possible. It is facing strong support at $1725, violation below targets $1700/$1675.

It is good to sell on rallies around $1765-66 with SL around $1787 for TP of $1675.