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Early breakout on Asia open for Gold. Major news today for USD, CPI inflation data and FOMC Minutes. Trade cautiously

Bearish on London pre-open

Today we are neutral on impact on Gold, # # # -USD pairs as we await FOMC speeches at 10.30PM local time. Remember November Dovish speech brought the current bullish trends against a week dollar. If you have open positions don't sleep yet😂😂😂

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GBP-JPY bears seems to target sub 166 today.

If you have been following our posts we have several levels to the current Gold moves.

1707-first major support
1725-2nd major support
1746-3rd major support
1768-1st major resistance
1772-4th Major support
1784-2nd major resistance
1800-3rd major resistance
1809-4th major resistance

We can easily flip 100-200 pips in the current range trading for Gold. Stay woke

Trading Outlook

1. Gold rose to a high of 1798 yesterday as I had anticipated. Bears taking over with a sharp drop post Asia and pre-London open. We are likely to go lower towards 1772-1784 before a recovery if any.

2. Oil as predicted is still bearish printing sub 72 yesterday. Lows of 65 beckoning in the horizon. Watching closely for any signs of recovery towards 76 otherwise the downtrend will persist.

3. # # #-USD pairs have been bullish this week. Showing mixed signals as we end the week. Don't overrule USD recovery in next week's open.

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Gold recovered yesterday after 3 days consecutive drop. Support adjusted from 1772 to 1765, similar to the one before the bullish move last week. Now trading around 1784. Watching closely to see if it will break the next barrier at 1790-1809.

2 commodities that are no respecter of traders.. and . When shiny they are super awesome but when bearish they haemorrhage to the last drop😂😂😂. Newbies keep away from temptation of huge lots on the 2

The journey of around the world in the last 365 days...back to where we began!

Movements that triggered the current bearish moves on Gold and Oil since last week's super hyper Friday: Gold resistance at 1800, Oil resistance at 80.

Personally I'm still bullish on Gold at prices above 1746. However current movement points to a correction it's better to watch how low it will go before projecting the next rally. 1800 is still key resistance

Scrapers must be having a field day. Big drops on Gold, Silver, Oil, EUR-USD, GBP-USD. Just wondering did we just have a bear rally or the market is being propped for significant moves post FOMC?. Any takers

Coming up. Was Powell's November speech dovish or hawkish?

USD -JPY currently trading at 133-135 region. I expect the slump to continue in the next 5 days. Strong support likely to build as we approach 129-130. A reversal will be imminent if we hold above 128.

Oil seems to be consolidating at 80. Key area to watch. In case of slump below 80 support at 76.6. next support 73.

Which way Gold? Yesterday market fell sharply during UK open and picked for most part of US trading. Asia trade has been subdued. Today being a Friday expect slow movement. The market may pick up slightly during US open. If we close positive on the day except a rally on Monday morning trade. If we slump bears take over but not completely. Key areas I'm watching

Support 1772-1800. Resistance 1800-1808.

if we slump below 1790 today chances are we settle around 1772. If market is moody we are likely to play around 1746-1765 regions.

I'm not a prophet but let's see what happens today and Monday 😂😂😂

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