Ichimoku analysis (4-hour chart)
Tenken-Sen- $1702
Kijun-Sen- $1712
Gold is trading extremely weak and lost more than $35 on strong US dollar and surging US bond yield. US dollar index is trading higher and hits the highest level since November 2020. A strong close above 200-day EMA confirms trend continuation; a jump till 94.30 is possible. The US 10-year bond yield jumped more than 10% from a low of 1.59% made on Mar 24th, 2021. The yellow metal hits an intraday low of $1677 and is currently trading around $1680.
Economic data:
Markets eye US ADP employment and pending home sales data for further direction. The Conference Board Consumer confidence came at 109.70 in Mar, the highest level in one year.
Technical:
It is facing strong support at $1675, violation below targets $1650/$1625. On the higher side, near-term resistance is around $1700, any indicative break above that level will take till $1725/$1745/$1760.
It is good to sell on rallies around $1689-90 with SL around $1700 for the TP of $1650.


Crypto Action Bias: ETHUSD Stands Out as the Bullish Pair to Watch
JPY Pairs Action Bias: EURJPY Leads as Bullish Standout Amid Mixed Momentum
EUR/JPY Holds Bullish Bias as Euro Extends Recovery
FxWirePro: NZD/USD neutral in the near-term, scope for downward resumption
NZD/JPY Flatlines Near 94.60: Will Key Support Reignite the Uptrend?
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/AUD gains some upside momentum but still bearish
FxWirePro- Major Pair levels and bias summary
EURUSD Spikes to 1.14306 on Fed Pause as Traders Eye Sell-the-Rally Setup
FxWirePro: USD/ CNY remains soft ahead of Fed decision
FxWirePro: GBP/NZD maintains bersish bias with focus on 2.2900 level
FxWirePro- Woodies pivot (Major)
Buy the Dips on EUR/JPY: Bullish Structure Points to 188 Target Ahead of Fed
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI
FxWirePro: USD/ZAR firms ahead of Fed interest rate decision
FxWirePro: GBP/USD edges lower ahead of Fed policy verdict 



