FxWirePro: USD/CNY edges higher but bulls lack punch 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path 
FxWirePro: USD/CAD edges lower but bullish outlook persists 
FxWirePro: GBP/AUD bears maintain upper hand 
FxWirePro- Major Crypto levels and bias summary 
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118 
FxWirePro: GBP/NZD gains some ground but outlook is bearish 
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus 
FxWirePro- Woodies pivot (Major) 
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97 
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25% 
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise 
FxWirePro: EUR/NZD downside pressure builds, key support level in focus 
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks 
Crypto Bias Report: Trend Signals and Top Bullish Picks 
FxWirePro: USD/CAD positions for another climb, eyes 1.4150 level 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1993.06
Kijun-Sen- $1990.67
Gold trading weak for the third consecutive day ahead of Fed monetary policy. It hit a low of $1975.28 at the time of writing and is currently trading around $1975.70.
Any dovish rate pause will push the yellow metal prices higher. Markets eye development in Middle East as war between Israel and Hamas intensifies.
US CB consumer confidence declined to 102.60 in Oct, compared to a forecast of 100.50. Chicago PMI dropped to 44vs. 45 forecast.
Major Economic data for the day
Nov 1st, 2023, US ISM Manufacturing PMI (2 pm GMT)
Federal funds rate (6 pm GMT)
US dollar index- Bullish. Minor support around 105/104.50. The near-term resistance is 107.50/109.
According to the CME Fed watch tool, the probability of a no-rate hike in Nov decreased to 97.70% from 99.20% a week ago.
The US 10-year yield trades higher ahead of Fed monetary policy. The US 10 and 2-year spread narrowed to -16.7% from -75%.
Factors to watch for gold price action-
Global stock market- Bearish (positive for gold)
US dollar index - Bullish (Negative for gold)
US10-year bond yield- Bullish (Negative for gold)
Technical:
The near–term support is around $1975, a break below targets of $1960/$1950/$1926. The yellow metal faces minor resistance around $2010 and a breach above will take it to the next level of $2020/$2048.
It is good to buy on dips around $1970-72 with SL around $1960 for TP of $2000/$2020.
