Forex and Gold analysis 02nd Jan 2018

By | January 2, 2018

Gold analysis

Comex Gold ( xauusd ) priced fired in last week of December and currently trading at 1307$ . This week we have Non farm employment data which we rate most important data of US and give clear picture about US economy . For today we have a good support on technical chart at 1298$ , if traders break this major base and manage to sustain trade below our support today . Then expect more pressure in this major commodity upto 1291$ – 1283$ today .

A good resistance on daily chart stands at 1318$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower upto 1326$ – 1333$ .

Gold analysis conclusion : Gold trend is positive for now .

Forex analysis

Eur/Usd trading at 1.2023 , This fx pair gained good points during vacations . A good support on daily fx chart stands at 1.1980 , if traders take this base out and manage to sustain trade below our support today . Then expect good profit booking upto 1.1940 – 1.1900 in this major forex pair today .

A good hurdle on fx chart stands at 1.2060 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower upto 1.2100 – 1.2160 .

Eur/Usd trend is positive for now .

Usd/Jpy trading at 112.68 , It lost approx 100 pips from peak of 113.50-60 . A good base level on daily fx chart stands at 112.30 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major forex pair upto 111.80 – 111.30 today .

A good hurdle on daily fx chart stands at 113.05 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good recovery in this forex pair upto 113.45 – 113.80 .

Usd/Jpy trend is flat for now .

Read our yearly market outlook for 2018 here

More will update to our signals subscribers .