Forex and Gold analysis 08th December 2017

By | December 8, 2017

Forex analysis

Eur/usd crashed further as it tested 1.1764 , currently trading near lowest point of the day . Today all focus will be US unemployment rate and Non farm employment which will determine the fate of precious metals . It will also be one of the deciding factor in next week’s Fed interest rate decision .

A good support on daily forex chart stands at 1.1730 , once traders take this hit and manage to hold price below our support , then expect more pressure upto 1.1690 – 1.1650 today .

A good resistance on daily forex chart stands at 1.1800 , if traders pass this barrier and manage to hold above our resistance today , then expect some recovery upto 1.1840 – 1.1880 .

Eur/usd trend is weak for now .

Usd/Jpy trading flat to positive since yesterday , currently flirting with 113.50 as it trades highest point of the day at 113.41 . A good base level on this major forex chart stands at 113 , if traders break this base and manage to hold below our support . Then expect 112.70 – 112.40 in this fx pair .

A good hurdle on daily forex chart stands at 113.91 , if traders breaks this major hurdle and manage to hold price above our resistance . Then expect good firepower upto 114.30 – 114.70 .

Usd/Jpy trend is positive for now .

Gold analysis

Comex gold price trading at 1249$ last night again it tested more lows and snicked 1244$ . A good base level on daily chart stands at 1240$ , if traders breaks this major base and manage to sustain trade below our support . Then expect more pressure in gold prices upto 1232$ – 1225$ today .

A good hurdle on daily chart stands at 1256$ , if traders breaks this major hurdle and manage to sustain trade above our resistance . Then expect good recovery in gold price upto 1262$ – 1270$ .

Gold analysis conclusion : Gold trend is weak for now .

More will update to our signals subscribers .