Forex and Gold analysis 12th Jan 2018

By | January 12, 2018

Gold analysis

Comex gold ( xauusd ) price trading at highest point of the year 1328$ . Main buying came in gold price due to dollar basket’s weakness which is not holding despite Dow Jones trading at highest point of all time at 25600 . A good support on gold chart stands at 1317$ , if traders take this base out and manage to sustain trade below our key support today . Then expect gold price to correct upto 1309$ – 1300$ today .

A good resistance on gold chart stands at 1337$ , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect good firepower in gold price upto 1343$ – 1349$ .

Gold analysis conclusion : Comex gold price trend is positive for now , avoid any major sell without proper stoploss .

Forex analysis

Eurusd climbing continuously gaining full benefit of weak dollar . Currently euro trading at 1.2045 , a good base level on this forex chart stands at 1.2002 , if traders take this base out and manage to sustain trade below our support today . Then expect eurusd to test upto 1.1950 – 1.1904 .

A good hurdle on this forex chart stands at 1.2080 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect eurusd to test upto 1.2120 – 1.2160 .

Eurusd trend is flat to positive for now .

Usdjpy crashed further all thanks to weak dollar currently its trading at 111.25 , a good base level on this forex chart stands at 110.90 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in usdjpy upto 110.50 – 110.05 .

A good hurdle on this forex chart stands at 111.60 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good recovery in usdjpy upto 112 – 112.60 .

Usdjpy trend is flat for now , follow key levels to trade .

More will update to our signals subscribers .