Gold is trading slightly higher and jumped more than $10. Markets eye ECB,Fed meeting minutes and EU Brexit summit for further direction.
The major three factors that drive gold prices
US dollar Index: Bearish. DXY has taken support near 20 day MA and shown a minor jump. The index has formed a low around 96.86 and is currently trading around 97. The near term support is around 96.79 and any close below targets 96.36/95.75.(positive for gold).
USD/JPY: Strong . USD/JPY has lost nearly 70 pips from high of 111.82. The near term support is around 300- day EMA around 110.98 and break below confirms further weakness.Positive for gold.
US 10 year yield : US 10 year yield trades flat after hitting high of 2.54%.The near term resistance is around 2.557% and any break above targets 2.609%/2.689%. The yield has been trading weak for past two months and lost nearly 25% from high of 3.25%.It is currently trading around 2.524%. slightly positive for Gold.
US 2 year yield: It is trading around 2.368%. The spread between US 10 year and 2 year has declined to 16bpbs from 30 basis point. The spread between 3 month and 10- year yield inversion has reversed (US 10 year yield trading above US 3 month).
Gold technical
On the higher side, near term resistance is around $1300 and any convincing break above targets $1309/$1312/$1316. The yellow metal should break above $1324 for further bullishness.
The near term support is around $1280 and any convincing below will drag the commodity down till $1269/$1260.
It is good to buy on dips $1295-96 with SL around $1289 for the TP of $1309/$1312.


NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Pair levels and bias summary
JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
FxWirePro: GBP/USD rises as soft US data pressures dollar
Nikkei Surges Past 65,000 on Suspected Yen Weakness: Tech Giants Like Advantest and NEC Lead Explosive Gains
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
Major European Indices Score Extremely Bullish: DAX Eyes 26000, CAC Targets 8600, FTSE100 at 11000 – Key Levels to Watch
FxWirePro: AUD/USD gains some ground but outlook is bearish
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro- Woodies pivot (Major)
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
Major FX Action Bias & US Market Sentiment: NZD/USD (Extremely Bullish) & AUD/USD (Bullish) Watchlist
NZDJPY Retreats on Yen Strength – Bearish Setup Targets 90 After Hitting 92.75 Low
FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus 



