Forex and Gold analysis 13th December 2017

By | December 13, 2017

Gold analysis

Comex gold price trading at 1244$ , last night xauusd prices crashed even lower and tested below 1237$ . Currently its flirting with 1244$ . A good support on daily chart stands at 1235$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in xauusd price upto 1228$ – 1220$ today .

A good resistance on daily chart stands at 1252$ , if traders take this hurdle out and manage to hold price above our resistance today . Then expect some recovery in gold price upto 1261$ – 1268$ .

Gold analysis conclusion : Comex gold price may trade in range bound for next 12 hours as market waits for Fed announcement on interest rate .

Forex analysis

Eur/usd tested 1.1720 range last night as Dow jones rallied again and tested near 24500 . Currently euro is trading at 1.1760 , a good base level on daily chart stands at 1.1720 , if traders take this base out and manage to hold below our support . Then expect more pressure on this forex pair upto 1.1670 – 1.1630 .

A good hurdle on daily chart stands at 1.1785 , once traders breaks this major hurdle and manage to sustain trade above our key resistance . Then expect good recovery in this forex pair upto 1.1820 – 1.1860 today .

Euro trend is flat to positive for now .

Usd/Jpy trading at 113.33 , it tested 113.12 which is just below our signal’s target . A good base level on daily chart stands at 112.90 , if traders take this base out and manage to hold below our key support . Then expect more pressure in this major forex pair upto 112.50 – 112.10 today .

A good hurdle on daily forex chart stands at 113.80 , if traders breaks this major hurdle and manage to hold above our resistance today . Then expect good firepower in this forex upto 114.20 – 114.60 .

Usd/Jpy trend is flat for now .

More will update to our signals subscribers .