- Gold continuing its weakness and declined $6 in the Asian session. The yellow metal hits intraday low of $1340.19 and trading at $ 1341. US dollar has shown good recovery almost 120 pips from the low of 88.25 and is at 89.34.
- The yellow metal further selling is possible on account of short covering in USDJPY. USDJPY’s major resistance is at 107.87 (10- day MA) and any break above confirms further bullishness. The yen and gold are moving in tandem with each other on safe haven demand.
- On the lower side, any break below $1341 (38.2% fib) will drag the gold down till 1338 (20- day MA)/$1332 (10- day MA)/$1328. Bearish continuation only if it breaks below $1305 level.
- The near term resistance is around $1357 and any close above will take the commodity till $1360/$1366. Overall bullish continuation only above $1366.
It is good to sell on rallies around $1344-$1345 with SL around $1351 for the TP of $1330/$1324.


FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro- Major European Indices
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro:EUR/AUD eases but bullish outlook persists
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 



