Forex and Gold analysis 31st Jan 2018

By | January 31, 2018

Gold analysis

Comex gold price trading at 1343$ , xauusd trading flat since morning as market is waiting for fed decision on interest rate tonight . A good support on xauusd chart stands at 1335$ , if traders tank this base and manage to sustain trade below our support today . Then expect good pressure in gold price upto 1328$ – 1320$ .

A good resistance on xauusd chart stands at 1352$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in gold price upto 1360$ – 1367$ .

Gold analysis conclusion : Comex gold trend is flat for now , wait for fed decision tonight before taking any position .

Silver support 16.88$ – resistance 17.35$ . Trend is flat .

Forex analysis

Eurusd trading at 1.2445 , this forex pair made double bottom at 1.2333 and bounced back pretty good . A good hurdle on this fx pair stands at 1.2480 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in euro upto 1.2520 – 1.2560 .

A good base level on this forex pair stands at 1.2420 , if traders break this major base and manage to sustain trade below our support today . Then expect good pressure in euro upto 1.2370 – 1.2330 .

Eurusd trend is flat to positive for now .

Usdjpy trading at 108.68 , it crashed further after some hope to recover till 109.20 . A good base level on this major forex pair stands at 108.30 , if traders take this base and manage to sustain trade below our support today . Then expect good pressure in yen upto 108 – 107.60 .

A good hurdle on this major forex pair stands at 109.20 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good recovery upto 109.60 – 110 .

Usdjpy trend is weak for now .

Wait for Fomc decision on interest rate before taking any major trade .

More will update to our signals subscribers .

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