Forex and Gold analysis 08th Feb 2018

By | February 8, 2018

Gold analysis

Comex gold price crashed further last night from 1325$ to 1312$ , currently prices are flirting with 1310$ , Major weakness in xauusd prices came after dollar index fired from 89 to 90 in last 2 days and dow jones also recovered almost 1500 points from its lowest point .

A good support on xauusd chart stands at 1307$ , if traders tank this base and manage to sustain trade below our support , then expect more pressure in gold price upto 1300$ – 1291$ .

A good resistance on xauusd chart stands at 1319$ , if traders manage to break this hurdle and sustain trade above our resistance , then expect some recovery in gold price upto 1327$ – 1334$ .

Gold analysis conclusion : Comex gold trend is weak for now , avoid any major buy .

Silver support stands at 16.20$ , resistance at 16.55$ , trend is weak .

Forex analysis

Euro trading at 1.2260 , a good base on this forex pair stands at 1.2220 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in euro upto 1.2170 – 1.2140 .

A good hurdle on this forex pair stands at 1.2305 , if traders take this hurdle out and manage to sustain trade above our resistance then expect more firepower in euro upto 1.2350 – 1.2399 .

Euro trend is weak for now , avoid any major buy .

Usdjpy trading higher at 109.75 , a good hurdle on this forex pair stands at 110.20 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in yen upto 110.60 – 111 today .

A good base on this forex pair stands at 109.30 , if traders break this major base and manage to sustain trade below our support today , then expect good pressure in yen upto 109 – 108.60 .

Usdjpy trend is positive for now .

More will update to our signals subscribers .

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