Gold analysis
Comex gold price trading at 1257$ , it fired approx 20$ since last night after fed finally hiked interest rate by 25bps and china’s yearly industrial production came a bit slower than previous . A good support on daily chart stands at 1248$ , if traders take this base out and manage to hold price below our support today . Then expect more pressure on gold prices upto 1241$ – 1232$ today .
A good resistance on daily chart stands at 1266$ , if traders take this hurdle out and manage to hold price above our resistance today . Then expect gold price to fire upto 1272$ – 1280$ .
Gold analysis conclusion : Comex gold trend is positive for now .
Forex analysis
Euro fired with full guns last night after fed decided to hike interest rate . It tested 1.1838 and currently trading at 1.1820 , a good support on daily forex chart stands at 1.1780 , if traders cut through this base and manage to hold price below our support today . Then expect more pressure in this fx pair upto 1.1740 – 1.1700 .
A good hurdle on daily forex chart stands at 1.1850 , if traders take this hurdle out and manage to hold above our resistance today . Then expect good firepower in this fx pair upto 1.1900 – 1.1944 .
Euro trend is looking positive for now but we have UK’s monetary policy today . Stay cautious .
Usd/Jpy trading at 112.65 , it crashed last nigh after fed decision on interest rate . A good base level on daily forex chart stands at 112.30 , if traders cut through this base and manage to hold below our key support today . Then expect more pressure in this forex pair upto 112 – 111.70 .
A good hurdle on daily fx chart stands at 113.05 , if traders breaks this major hurdle and manage to hold above our key resistance . Then expect good firepower in this forex pair upto 113.40 – 113.80 .
Usd/Jpy trend is flat to weak for now .
We have core retail sales data from US today . Stay cautious .
More will update to our signals subscribers .