Forex and Gold analysis 05th Feb 2018

By | February 5, 2018

Gold analysis

Comex gold price trading at 1332$ , it crashed last friday after better than expected non farm payroll data . A good support on xauusd chart stands at 1324$ , if traders tank this base and manage to sustain trade below our support today . Then expect good pressure in gold price upto 1317$ – 1308$ .

A good resistance in xauusd chart stands at 1341$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good recovery in gold price upto 1348$ – 1354$ .

Gold analysis conclusion : Comex gold price trend is weak for now .

Silver support at 16.50$ , resistance at 16.92$ , Trend is weak .

Forex analysis

Eurusd trading at 1.2457 , it crashed last friday after good shine in dollar basket but now seems on a recovery from lows . A good hurdle on this forex pair stands at 1.2505 , if traders breaks this hurdle and manage to sustain trade above our resistance today . Then expect good firepower in euro upto 1.2550 – 1.2599 .

A good base on this forex pair stands at 1.2400 , 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 .

Eurusd trend is flat to weak for now .

Usdjpy trading at 109.97 , Yen could not sustain on higher levels despite good strength in dollar index last week . A good base level on this forex pair stands at 109.50 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in yen upto 109 – 108.50 .

A good hurdle on this major forex pair stands at 110.30 , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower in yen upto 110.70 – 111 .

Usdjpy trend is flat to weak for now .

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