Forex and Gold analysis 02nd Feb 2018

By | February 2, 2018

Gold analysis

Comex gold price trading at 1347$ last night it fired from 1337$ to test 1350$ , currently xauusd trading flat . A good support on xauusd chart stands at 1340$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in gold price upto 1332$ – 1327$ .

A good resistance on xauusd chart stands at 1354$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in gold price upto 1361$ – 1368$ .

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

Silver support stands at 16.95$ , resistance at 17.35$ . Trend is weak .

Forex analysis

Eurusd trading at 1.2492 , this forex pair trading flat as market is waiting for major data in evening . A good base level on this forex pair stands at 1.2440 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in euro upto 1.2400 – 1.2360 .

A good hurdle on this forex pair stands at 1.2520 , if traders break this hurdle and manage to sustain trade above our resistance today , then expect good firepower upto 1.2560 – 1.2600 .

Eurusd trend is flat to weak for now .

Usdjpy trading at 109.78 , yen trading higher today after making lows near 109.20 yesterday . A good hurdle on this forex pair stands at 110.20 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in yen upto 110.60 – 111 .

A good base on this forex pair stands at 109.30 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in yen upto 109 – 108.60 .

Usdjpy trend is flat to positive for now

Today we have one of the most important data of Non farm employment change with Unemployment rate from US . Keep an eye on both data as it may reverse the trend or can give wild moves .

More will update to our trading signals subscribers .

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