- Gold dropped almost $14 form the yesterday high on account of higher dollar and Fed rate hike fears. It is currently trading around $1167.
- The European Central Bank has surprised the markets by scaling back its QE program. It has reduced its bond buying program from the 80 billion Euros to 60 billion Euros and extended the timeline from Apr 2017 to Dec 2017.
- Technically Gold is facing strong trend line resistance of $1180 (trend line joining $1197 and $1188) and any break above will take the pair till $1194/$1200. Any close above $1200 will take the yellow metal till $1217 (34- day EMA).
- On the lower side any close below $1160 will take the bullion further down till $1147/$1130.The minor support is around $1170.
It is good to sell on rallies around $1170-72 with SL around $1180 for the TP of $1157/$1140.


FxWirePro: GBP/USD steadies ahead key data, BoE event risk
EUR/JPY Retreats: Yen Strength Caps Rally, Bearish Bias Intact Below 183.15
FxWirePro: USD/CNY outlook weaker on renewed downside pressure
Yen Strikes Back: AUD/JPY Retreats as BOJ Policy Looms – Sell on Rallies to 100
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
EUR/USD Surges Past 1.1765 on Dismal US Jobs Data: Bullish Momentum Builds with Eyes on 1.1900
FxWirePro: USD/JPY dips as yen strengthens ahead of BOJ policy meeting
FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments
FxWirePro- Major Pair levels and bias summary
CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115?
FxWirePro- Major European Indices
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major European Indices
FxWirePro- Woodies Pivot(Major) 



