Forex and Gold analysis 16th Jan 2018

By | January 16, 2018

Gold analysis

Comex gold price trading flat at 1341$ since yesterday . It tried to fire back after yesterday morning but still trading in same 3-4$ range . A good support on xauusd chart stands at 1332$ , if traders tank this base and manage to sustain trade below our support , then expect more pressure in gold price upto 1325$ – 1317$ .

A good resistance on xauusd chart stands at 1348$ , if traders take this hurdle out and manage to sustain trade above our resistance , then expect more firepower in gold price upto 1356$ – 1364$ .

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

Silver resistance for today at 17.55$ , support at 17.10 . Trend is flat to weak for now .

Forex analysis

Eurusd trading at 1.2262 , it gained yesterday due to weak dollar index as it tanked and tested near 90 . A good base level 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 eurusd upto 1.2180 – 1.2140 .

A good hurdle on this forex pair stands at 1.2300 , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect good firepower upto 1.2340 – 1.2380 .

Eurusd trend is flat to positive for now .

Usdjpy trading at 110.86 , this major currency pair crashed due to weak dollar but then recovered beautifully from lows and now trading strong . A good hurdle on this forex pair stands at 111.25 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in usdjpy upto 111.60 – 112 .

A good base on this forex pair stands at 110.50 , if traders take this base out and manage to sustain trade below our support today . Then expect usdjpy to tank further 110.20 – 109.80 .

Usdjpy trend is flat to positive for now .

More will update to our signals subscribers .

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