Gold forecast
Comex gold price trading at 1320$ , xauusd tested 1326$ in early morning and now trading lower . Today a good support on xauusd chart stands at 1308$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold price upto 1300$ – 1290$ .
A good resistance on xauusd chart stands at 1332$ , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in gold price upto 1340$ – 1348$ today .
Gold forecast conclusion : Gold trend is flat to positive for now .
Silver support at 16.25$ , resistance at 16.75$ . Trend flat to positive .
Forex analysis
Eurusd trading at 1.2330 , Euro trading a bit higher since morning . A good base on this forex pair stands at 1.2290 , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in euro upto 1.2250 – 1.2205 .
A good hurdle on this forex pair stands at 1.2370 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in euro upto 1.2400 – 1.2440 .
Euro trend is flat to positive for now .
Usdjpy trading higher at 106.75 . A good hurdle on this major fx pair stands at 107.05 . If traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in usdjpy upto 107.40 – 107.80 .
A good base on this major fx pair stands at 106.40 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in usdjpy upto 106 – 105.50 .
Usdjpy trend is flat to positive for now .
Market is in range bound since last 2 weeks . Try not to take big trade till market give clear break out . Follow technical levels before taking any trade and use strict stoplosss in every single trade .
More will update to our signals subscribers .