Gold analysis
Comex gold price trading at 1318$ , it crashed till 1302$ last night and recovered very smartly within hours as dollar index crashed from 90.50 to 89.90 . Currently dollar index is trading even lower at 89.80 . A good support on xauusd chart stands at 89.50 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold price upto 89.20 – 89 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 some recovery in gold price upto 1332$ – 1341$ .
Gold analysis conclusion : Comex gold trend is flat to positive for now .
Forex analysis
Euro trading 1.2270 , it finally recovered last night and now sustaining above 1.2250 which is a good sign for bulls . A good hurdle on this forex pair stands at 1.2310 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect more firepower in euro upto 1.2350 – 1.2380 .
A good base on this major forex pair stands at 1.2230 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2200 – 1.2160 .
Euro trend is positive for now .
Usdjpy trading pretty weak at 105.80 , it crashed last night pretty hard . A good base on this fx pair stands at 105.50 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in usdjpy upto 105.20 – 104.80 .
A good hurdle on this fx pair stands at 106.20 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect some recovery in usdjpy upto 106.50 – 106.80 .
Usdjpy trend is weak for now .
More will update to our signals subscribers .