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FxWirePro: GBP/JPY trades slightly below 20- day MA, any break below 146 confirms bearish continuation

FxWirePro: USD/ZAR hovers around key resistance at 13.50 mark, sustained close above requires for upside rally

FxWirePro: South Korean won trades marginally lower against euro after mixed economic data sets, bias remains bullish

FxWirePro: NZD/CAD struggles at 21-EMA, good to go long on break above

FxWirePro: GBP/JPY hammer pops at channel supports on intermediate trend, hanging man and shooting star plummet price below DMAs

FxWirePro: EUR/CHF rejected at session highs, good to go short on break below 21-EMA

FxWirePro: GBP/CHF recovery lacks traction, weakness to extend on break below trendline support at 1.2985

FxWirePro: BTC/USD faces trend line resistance at 7535, close below 90-EMA to see further downside

FxWirePro: XAG/USD rejects key support at $15.15 mark, short term trend reversal likely

FxWirePro: EUR/USD recovers more than 100 pips on Donald Trump comments on Fed, good to sell on rallies

FxWirePro: GBP/JPY trades slightly below 20- day MA, any break below 146 confirms bearish continuation

FxWirePro: ETH/EUR extends downside after rejection at daily cloud, break below 20-DMA could see further weakness

FxWirePro: Copper extends rout, breaks new supports every week, next major bear target at 200W SMA

FxWirePro: USD//INR hovers around 69.00 mark, India’s economic data in focus

FxWirePro: Japanese yen trades marginally higher on robust CPI, core CPI data

FxWirePro: Nikkei Daily Outlook

FxWirePro: USD/CHF trades above 1.000 level, any convincing break above 1.0060 confirms bullish continuation

FxWirePro: Gold Vs US 10 year bond yields

Wednesday, January 3, 2018 5:53 AM UTC
0
comments
  • Gold jumped almost $17 from the yesterday low of $1304.50 and hits fresh three-month high.  The main reason for jump is due to weakness of US dollar. US dollar index is trading weak for the past 12 days and closed below neck line support for two consecutive days. It is currently trading around 91.88. The yellow metal jumped till $1321.50 and is currently trading around $1313.
     
  • US 10 year yield rose almost 3% from low of 2.40% on strong US stock market and  also due to slight jump in European bond yields after positive comment from ECB board member. US yield and gold have negative correlation of 65% for the past one year and 82% for the past four months. So any further jump in yields will drag the yellow metal down till $1287 (10 – day MA).
     
  • On the higher side, gold is facing strong resistance at $1321 and any break above will take the yellow metal till $1331/$1339 (161.8% retracement).
     
  • The near term support is at $1302 (5- day MA) and any violation below will drag the metal to next level till $1295 (7- day MA) /$1287 (100- day MA). Minor weakness below $1270 (200- day MA). Any break below $1270 will drag the gold till $1260/$1243/$1236 (Dec 12th 2017 low).

It is good to sell on rallies around $1315-17 with SL around $1322 for the TP of $1302/$1295.  

 

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