Gold forecast
Comex gold price continuing its weakness and trading weaker today . Currently its flirting with 1318$ . A good support on xauusd chart stands at 1308$ , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in gold price upto 1300$ – 1291$ today .
A good resistance on xauusd chart stands at 1326$ , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good recovery in gold price upto 1333$ – 1340$ .
Gold forecast conclusion : We have Unemployment rate and Non farm Employment change data from US which is extremely important , keep an eye on both event as these numbers will decide the further trend for gold . For now xauusd is looking weak .
Silver support 16.25$ , resistance 16.65$ , Trend weak .
Forex analysis
Eurusd trading at 1.2315 its trading weaker since yesterday as dollar index charged up till 90 . A good base on this forex pair stands at 1.2270 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2240 – 1.2200 .
A good hurdle on this forex pair stands at 1.2360 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in euro upto 1.2400 – 1.2440 .
Euro trend is flat to weak for now .
Usdjpy trading at 106.70 , a good base on this fx pair stands at 106.20 . If traders take this base out and manage to sustain trade below our support . Then expect some pressure in usdjpy upto 105.50 – 105 .
A good hurdle on this major fx pair stands at 107.20 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in this usdjpy upto 107.60 – 108 .
Usdjpy trend is flat to positive for now .
More will update to our signals subscribers .