- 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: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro: GBP/USD dips lower on negative UK retail sales data
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro- Major European Indices
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro- Woodies Pivot(Major)
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 



