Forex and Gold analysis 01st Feb 2018

By | February 1, 2018

Gold analysis

Comex gold price trading at 1344$ last night fed did not hike or reduce interest rate which gave a little boost to precious metals . A good support on xauusd chart stands at 1334$ , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure on gold price upto 1327$ – 1320$ .

A good resistance in xauusd stands at 1352$ , if traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect good firepower upto 1361$ – 1367$ .

Gold analysis conclusion : Comex gold trend is flat to positive for now .

Forex analysis

Eurusd currently trading at 1.2410 , a good base on this forex chart stands at 1.2370 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in euro upto 1.2340 – 1.2300 .

A good hurdle on this major forex pair stands at 1.2450 , if traders break this major hurdle and manage to sustain trade above our resistance today , then expect good firepower in euro upto 1.2490 – 1.2530 .

Eurusd trend is flat to weak for now .

Usdjpy trading at  109.40 , a good base level on this forex pair stands at 109 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure again in yen upto 108.60 – 108.20 .

A good hurdle on this forex pair stands at 109.80 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in yen upto 110.20 – 110.60 .

Usdjpy trend is positive for now .

More will update to our signals subscribers .

 

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