Gold is trading extremely bullish and jumped another $50 from yesterday's low. The yellow metal has broken psychological resistance around $1400 and hits the highest level since Sep 2013. The jump was mainly due to the dovish Fed and escalation of Middle East tension. The series of incidents such as the attack on tankers in Strait of Hormuz and Iran's downing of a US military drone has escalated further tensions between the US and Iran.
US 10 year bond yield has shown a minor recovery from a low of 1.97%. But the overall trend is still weak and spread between 10 year and 3 month has narrowed from 25 basis point to 13 basis point. It is currently trading around 2.00%. The yield and gold are inversely proportional to each other.
On the higher side, near term resistance is around $1412 and any convincing break above targets $1428/$1449.
The near term support is around $1389 (23.6% fib) and any break below confirms minor weakness a dip till $1375/$1360-65 (resistance turned into support)/$1346 (low made after Fed policy).
It is good to buy on dips around $1375-76 with SL around $1360 for the TP of $1428.


ECB Hikes, Euro Dives: EURUSD Bears Reload for a Run to 1.1400
FxWirePro- Major Pair levels and bias summary
CAD/JPY Breaks Down: Loonie Weakness and BOC Patience Set Bears’ Sights on 110
FxWirePro: AUD/ USD strongly bearish despite upside attempts
Ethereum Cracks Under $1,700: Sell the Rally Near $1,750 as Bears Eye $1,380–$1,200
FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: USD/CAD steadies around 1.3990 ,retains bid one
Relief Rally Extends to 112.75, but AUDJPY EMA Structure Favors Selling
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major European Indices
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/ZAR edges higher, set to stay on back foot
Sell the Bounce: NZDJPY Bearish Bias Persists Below 94.20, Eyes 90.50
Dollar Roars Back: USDCHF Buy-the-Dip Setup Eyes 0.8150 as Inflation Shock Kills Rate-Cut Bets
BTC’s Bear Bounce: Sell the Rally Near $66K as Bears Target $59K–$52K Breakdown 



