Gold analysis
Comex gold prices opened positive and currently trading at 1342$ after making highs near 1345$ , all positive momentum in xauusd is due to weak dollar . A good support on daily xauusd chart stands at 1332$ , if traders take this base out and manage to sustain trade below our support today . Then expect gold prices to test upto 1325$ – 1318$ today .
A good resistance in xauusd chart stands at 1351$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect gold prices to test upto 1359$ – 1366$ .
Gold analysis conclusion : Comex gold price trend is positive for now , but stay cautious on these high levels .
Forex analysis
Eurusd trading higher at 1.2215 after testing near 1.2240 , its trying to cool off from peak . A good base level on this forex pair stands at 1.2180 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in euro upto 1.2140 – 1.2100 .
A good hurdle on this forex pair stands at 1.2255 , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect good firepower in eurusd upto 1.2300 – 1.2345 .
Eurusd trend is positive for now .
Usdjpy trading at 110.79 , its crashing since last week and now trying to find a small breather . A good base level on this forex pair stands at 110.40 , if traders take this base out and trade below our key base . Then expect more pressure in usdjpy upto 110 – 109.65 .
A good hurdle on this forex pair stands at 111.20 , if traders somehow climb to this level and manage to sustain trade above our resistance . Then expect good recovery upto 111.60 – 112 .
Usdjpy trend is flat to positive for now .
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