Forexomni

#xauusd Gold rises above 2412 following US CPI data. Gold extend its daily upside and trades at its highest level in seven weeks above $2,410. The benchmark 10-year US Treasury bond yield is down more than 2% on the day below 4.2% after June Consumer Price Index data, providing a boost to Gold. Yellow metal near a very strong horizontal resistance and creating a triple top structure is well. Near the horizontal resistance chances are higher we may see a correction phase for another great impulse move. Although near a horizontal resistance is very risky price may fluctuate more time near the zone. For further growth it is better to be correct to complete it's wave 4 and then it may start it's positive journey in coming days.

#dxy US Dollar sinks after CPI locks in September rate cut. The US Dollar retreats firmly after soft CPI release. The Fed should no longer be concerned on the disinflationary trajectory. The US Dollar index falls further and heads to 104.75.US Dollar sharply down and soft CPI justifies a September cut by the Fed Market now more certain of September cut. US Treasury yields fall, making traders lose interest in USD. Price hold its correction upto 61% level and sudden rise after hitting a zone indicating may hold in coming days.

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Usdjpy TP hit 107+ pips

#audusd Risky bullish move although pair has broken it's horizontal range and closed above the mentioned zone. For the last week I am watching moving in just one direction. Today very high Fundamental data and may be during data time price remains BEARISH for a short period of time until the broken zone and expectations are higher we may see a good move towards the horizontal resistance mentioned on the chart. This red zone acting as a resistance becomes support zone and there are cluster of ascending and descending support also have the ability to push the price more forward in coming days.

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#nzdjpy Price is showing a little weakness after creating a reversal pattern of rising wedge. Although all the Jpy pair are very risky in these days until the BoJ intervene in the market. As the pair struggles to surpass 99.00 and started correction towards the support area. And There is another reason price showing weakness after RBNZ kept rate unchanged. After the this decision a strong bearish can be seen in the pair. A retest of pattern is expected and after this we may see a good fall towards the support area

#audnzd Near a very strong horizontal resistance and completed its 61% fib retracement correction. For the last Two weeks continuously price is moving just in one side without any correction phase. And chances are higher near the solid cluster resistance we may see a good fall Towards the initial support zone. Price is just stop near the zone after Soo many pushes this setup will only be valid until price is under the fib retracement. More consolidation near the zone can give more opportunities in coming days.

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#gbpusd steadies near 1.2800 as Fed Powell's appearance looms GBPUSD is consolidating near 1.280 early Tuesday, having briefly tested multi-week highs on Monday. UK data remains thin this week, leaving traders focused on Fed Chair Powell's congressional testimony today and US CPI data on Wednesday. The Pound Sterling holds gains against the US Dollar with a focus on Fed Powell’s testimony. BoE’s Haskel argued in favor of holding interest rates steady at their current levels. This week, investors will pay close attention to the US CPI and UK factory data. Pound Almost Has hit the Peak As we Can see in The chart. Price has retested it's 78% fib retracement and Horizontal resistance where chances of reversal are Higher than any other level.

Close 97+ pips

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#usdcad Usdcad gyrates above 1.3600 after US/Canada Employment release Cad turns volatile after the release of the US/Canada Employment report for June. US wage growth momentum slowed expectedly while employment numbers beat estimates. Canada’s labor market witnessed drawdown while Average Hourly Earnings accelerated. Cad loses ground as US Dollar faces challenges after weaker than expected US employment data released on Friday. According to CME's FedWatch Tool the probability of a Fed rate cut in September has increased to 70.7%, up from 64.1% just a week ago. Canada's 10 year government bond yield fell below 3.53% indicating an accommodative stance by the Boc.Technically price Facing a strong horizontal and Vertical support near the 38% fib level on Higher impulsive move. After a Retest a within a Range bound movement towards the Vertical resistance is expected in coming days.