FxWirePro: EUR/GBP extends bounce off 200-DMA support, focus on UK Retail Sales and Eurozone Consumer Confidence for impetus
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(AUDUSD and DXY) for the day
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(USDCHF and CADJPY) for the day
FxWirePro: GBP/CHF edges higher from session lows, lower-than-expected plunge in UK Retail Sales supports pound
FxWirePro- Gold Daily outlook
Ichimoku Analysis (4-hour chart)
Gold recovered from yesterday's low of $1829.78 on safe-haven demand. Global stock markets crashed heavily on geopolitical uncertainties as tensions mounted between Russia and Ukraine. Markets eye US Fed monetary policy meeting on the further direction. The US dollar index showed a nice pullback after hitting a low of 94.63. Gold hits an intraday high of $1843.69 and is currently trading around $1842.32.
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- Bearish (positive for gold)
The near–term support is around $1825, violation below targets $1810/$1800/$1770/$1750. Significant reversal only below $1750.The yellow metal facing strong resistance $1815, any violation above will take to the next level $1835/$1860/$1877$1912 is possible.
It is good to buy on dips around $1825-26 with SL around $1810 for TP of $1880.