Gold erased the previous gains and edged lower on Wednesday, heading for a third straight day in loss as investors flocked out of the metal amid the ongoing commodity sell-off and a stronger dollar chipped away demand for the metal.
- Still, the metal has risen almost 3% since the beginning of the year and snatched a wide weekly gain last week.
- Moreover, Asian shares traded broadly higher on Wednesday morning as investors build confidence after positive trade data from China. The trade surplus expanded from 343.10 billion Yuan in November to 382.05 billion Yuan in December.
- To the down side, support levels are seen at $1082, $1076 and $1072 levels.
- Initial resistance levels are seen at $ 1097, $1102 and $1112 levels.
- We prefer to take long position in XAUUSD, Entry @ $1078-1080, stop loss @ $1072 and take profit at $ 1097 levels.


FxWirePro: USD/JPY trades in tight range ahead of event risks
FxWirePro: EUR/AUD edges higher but outlook is bearish
FxWirePro: AUD/USD dips as dollar firms on Fed rate hike bets
FxWirePro: USD/ZAR runs out of steam but mains bullish outlook
JPY Major Currency Score: NZDJPY, AUDJPY & CHFJPY Turn Bearish
FxWirePro: GBP/AUD neutral in the near term, scope for further downside
AUDJPY Pullback Presents Selling Opportunity Above 110.50
Major Pair Currency Score: EURUSD, GBPUSD, NZDUSD, AUDUSD Extremely Bearish; USDCAD Extremely Bullish
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies Pivot (Major)
FxWirePro: GBP/USD falls to six-week ,vulnerable to more downside
FxWirePro: USD/JPY advances ahead of Fed and BOJ rate decisions
AUDJPY: Bearish Outlook Despite Short-Term Bullish Signals, Sell Rallies Near 110.78
FxWirePro: NZD/USD edges lower ahead Of FOMC decision
FxWirePro: USD/ZAR edges higher as market brace for Fed rate decision
FxWirePro- Major Pair levels and bias summary 



