Forex and Gold analysis 11th December 2017

By | December 11, 2017

Forex analysis

Eur/Usd trading at 1.1780 it recovered from lows of 1.1730 and trading near its major hurdle of 1.1800 . This week we have UK and US monetary policy which would determine the fate of market . A good resistance on daily technical chart stands at 1.1800 , once traders breaks this major hurdle and manage to sustain above our resistance . Then expect more firepower in this forex pair upto 1.1840 – 1.1880 today .

A good support on daily chart stands at 1.1740 , if traders cut through this level and manage to sustain trade below our support today . Then expect more pressure in this major forex pair upto 1.1700 – 1.1660 .

Eur/Usd trend is flat to positive for now .

Usd/jpy trading flat at 113.54 , a good base on daily chart stands at 113.20 , once traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in this forex pair upto 112.80 – 112.40 .

A good hurdle on daily chart stands at 113.90 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this forex pair upto 114.30 – 114.70 .

Usd/Jpy trend is flat to weak for now .

Gold analysis

Comex gold price trading at 1250$ , its trading a bit higher due to short covering . A good support on daily chart stands at 1242$ , if traders take this base out and manage to hold price below our key level . Then expect more pressure upto 1236$ – 1230$ .

A good hurdle on daily chart stands at 1258$ , if traders take this hurdle out and manage to hold price above our resistance today . Then expect good firepower in gold price upto 1266$ – 1272$ today .

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

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