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FxWirePro- Woodies pivot (Major) 
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Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish 
Ichimoku Analysis (4- Hour chart)
Tenken-Sen- $1920.56
Kijun-Sen- $1928.85
Gold lost its shine despite weak US inflation. It hits a low of $1910.93 yesterday and is currently trading around $1914.73.
US annual CPI rose 3.2% in Jul, compared to a forecast of 3.3%. The headline and core inflation m/m came at 0.20% in line with expectations. The number of people who have filed for unemployment benefits surged to 248000 in the week ended Aug 5, the highest level since the week ended on Jul 1st.
Major economic data for the day
Aug 11th, 2023, US PPI m/m (12:30 pm GMT)
US dollar index- Bullish. Minor support around 102/101. The near-term resistance is 103/104.
According to the CME Fed watch tool, the probability of a no-rate hike in Sep increased to 89% from 82% a day ago.
The US 10-year yield jumped sharply despite weak CPI data. The US 10 and 2-year spread narrowed to -74% from -110%.
Factors to watch for gold price action-
Global stock market- bullish (negative for gold)
US dollar index - Bullish (bearish for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $1900, a break below targets of $1885/$1867. The yellow metal faces minor resistance around $1950 and a breach above will take it to the next level of $1955/$1970/$1985.
It is good to sell on rallies around $1930-32 with SL around $1950 for TP of $1870.
