Gold has shown a minor decline on Friday on account of higher crude oil price.It is currently trading around $1225.
The major three factors that drive gold prices
US dollar Index: Strong. DXY has shown a good recovery of more than 60 pips from low of 96.40. It is currently trading around 96.95.The near term resistance is around 97.08 and any break below targets 97.40/97.69. (slight negative for gold).
USD/JPY: Strong. The pair has jumped more than 100 pips from low of 112.30. USDJPY has taken support near 89 day EMA. It is currently trading around 113.21. The near term resistance is around 113.25 and any break above targets 113.50/114. Slightly negative for gold.
US 10 year yield : US 10 year yield is trading flat after hitting low of 3.02%.It faces strong support around 3.07 (89- day EMA) .Any further weakness only if it breaks convincingly below 3.07%. It is currently trading around 3.064%. neutral for Gold.
US 2 year yield: It has taken support near 89-day EMA and shown a marginal higher. The spread between US 10 year and 2 year has decreased from 30bpbs to 25 bpbs.
Gold technical
Major support $1183
Major resistance - $1240
The yellow metal is consolidating in narrow range between $1224.94 and $1229.13.On the higher side, major resistance is around $1230 and any convincing break above $1230 will take the commodity till $1236 .It should break above $1243 (Oct 26th 2018 high) for bullish continuation.
The near term support is around $1217 (55 day EMA) and any violation below will drag the commodity down till $1209/$1200.
It is good to buy on dips around $1223-24 with SL around $1217 for the TP of $1243.


AUDJPY Volatile After Massive Sell-Off: Sell Rallies at 113, Targeting 110 as Bearish Momentum Surges
All Major JPY Pairs Hit Extreme Bearish Score of -100: USDJPY, EURJPY, GBPJPY, AUDJPY, NZDJPY & CADJPY Flash Maximum Weakness
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/JPY dips as market assess risk of additional FX intervention.
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
FxWirePro: USD/CNY dips to hit three year low,scope for further downside
FxWirePro: USD/CNY downtrend loses steam, remains on bearish path
FxWirePro: NZD/USD consolidates overnight gains, but loses momentum
FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus
DAX & CAC40 Score Perfect 100 Trend, FTSE100 Lags at 85 – Key Levels to Watch on the Perfect Scorers
FxWirePro: AUD/USD gains some ground but outlook is bearish
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
Forex Scorecard: EUR/USD, GBP/USD, and NZD/USD Stand Out as Prime Bullish Opportunities
AUDJPY Bears Tighten Grip: Sell Rallies at 110.65-67 Targeting 107.75 as All EMAs Stay Red
NZDJPY Retreats on Yen Strength – Bearish Setup Targets 90 After Hitting 92.75 Low 



