Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish 
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise 
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25% 
FxWirePro: USD/CAD edges lower but bullish outlook persists 
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound 
FxWirePro- Woodies pivot (Major) 
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118 
Crypto Bias Report: Trend Signals and Top Bullish Picks 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path 
FxWirePro: GBP/NZD gains some ground but outlook is bearish 
FxWirePro: GBP/AUD under pressure as pound continues to weaken 
FxWirePro- Woodies pivot (Major) 
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus 
FxWirePro: USD/ZAR retreats slightly but bias is bullish 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1954.88
Kijun-Sen- $1961.09
Gold prices trade below $1950 on upbeat market sentiment. The Republic and Democratic leaders are optimistic about current negotiations and the deal to be finalized soon. hits a low of $1936.85 yesterday and is currently trading around $1947.92.
US Q1 GDP 2023 (second reading) came at 1.3% compared to a forecast of 1.1%. The number of people who have filed for unemployment benefits increased by 4000 in the week ending May 20, below the estimate of 249K.
Major economic data for the day
May 26th, 2023, US Core PCE index m/m (12:30 pm GMT)
Core Durable goods orders m/m (12:30 pm GMT)
Revised UoM consumer sentiment (2 pm GMT)
US dollar index- Bullish. Minor support around 102.30/101.50. The near-term resistance is 104.20/105.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in June increased to 37.8% from 35.6% a week ago.
The US 10-year yield jumped more than 2% yesterday on our debt deal optimism. The US 10 and 2-year spread narrowed to -71% from -108%.
Factors to watch for gold price action-
Global stock market- bullish (negative for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bullish (Bearish Mixed for gold)
Technical:
The near–term support is around $1935, a break below targets of $1920/$1900.The yellow metal faces minor resistance around $1955, and a breach above will take it to the next level of $1970/$2000/$2020/$2040/$2070/$2100/$2150.
It is good to sell on rallies around $1955 with SL around $1970 for TP of $1920/$1900.
