Forex and Gold analysis 06th Feb 2018

By | February 6, 2018

Gold analysis

Comex gold price trading at 1344$ , it fired approx 10$ from its lowest point  after dow jones crashed nearly 4% last night . A good support on xauusd chart stands at 1335$ , if traders take this base out and manage to sustain trade below our support , then expect some pressure in gold price upto 1327$ Р1320$ .

A good resistance on xauusd chart stands at 1352$ , if traders take this hurdle out and manage to sustain trade above our resistance , then expect more firepower in gold price upto 1359$ – 1367$ .

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

Dow Jones analysis

Dow Jones Industrial Average crashed nearly 10% since yesterday , Currently trading at 23520 after making lows near 23100 . A good support on wall street chart stands at 23050 , if traders tank this base and manage to sustain trade below our support , then expect more pressure in Dow Jones upto 22700 – 22500 .

A good resistance on wall street chart stands at 23830 , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect some breather in dow jones upto 24050 – 24300 .

Dow Jones analysis conclusion : Wall street trend is weak , avoid any major buy for now .

Forex analysis

Eurusd trading at 1.2375 , A good base on this forex pair stands at 1.2340 , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in euro upto 1.2300 – 1.2260 .

A good hurdle on this forex pair stands at 1.2420 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect some recovery in euro upto 1.2460 – 1.2499 .

Eurusd trend is flat to weak for now .

Usdjpy crashed nearly 150 pips yesterday as market could not hold any higher levels . Currently yen trading at 108.95 , A good base on this forex pair stands at 108.50 , if traders take this base out and manage to sustain trade below our support then expect more pressure in yen upto 108.05 – 107.60 .

A good hurdle on this forex pair stands at 109.30 , if traders take this hurdle out and manage to sustain trade above our resistance then expect some breather in yen upto 109.70 – 110 .

Usdjpy trend is flat to weak for now .

More will update to our signals subscribers .

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