Gold -
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $2063.74
Kijun-Sen- $2056.48
Gold showed a massive jump of $40 after a weak US ISM manufacturing index. US ISM manufacturing PMI declined to 47.8 in Feb compared to a forecast of 49.50. Both core and headline PCE came in below expectations. The yellow metal hit a high of $2088 yesterday and is currently trading around $20.
The number of people who have filed for unemployment benefits rose by 13000 to 215000 in the week ending Feb 24th. Chicago PMI fell to 44 in Feb vs. the Forecast of 48.10.
According to the CME Fed watch tool, the probability of a no-rate cut in Mar decreased to 95% from 97% a week ago.
US dollar index- Bearish. Minor support around 103.40/102.70. The near-term resistance is 104.20/105.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bearish (Bullish for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $2075, a break below targets of $2060/$2050. The yellow metal faces minor resistance around $2090 and a breach above will take it to the next level of $2100/$2125.
It is good to buy on dips around $2060 with SL around $2040 for TP of $2100/$2120.


FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
FxWirePro: GBP/AUD moves lower on weak UK data
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
NZDJPY Bulls Charge Ahead: Buying the Dips Above 90 for a Shot at 92
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro- Major European Indices
FxWirePro:EUR/AUD eases but bullish outlook persists
FxWirePro- Woodies Pivot(Major)
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 



