Gold and Forex analysis 04th December 2017

By | December 4, 2017

Gold analysis

Comex gold ( xauusd ) price trading at 1274$ , it closed at 1280$ but today it opened lower and continuously trading in lower range , wall street again tested highest level and its up 200 points . US dollar basket trading at 92.87 almost at highest level of the day , dowjones and dollar index are putting pressure on precious metals prices .

A good resistance on daily chart stands at 1286$ , once traders cut through this hurdle and hold xauusd price above this level then expect good firepower upto 1293$ – 1299$ today .

A good support on daily chart stands at 1268$ , if traders take this base out and manage to hold price below our support , then expect good pressure upto 1261$ – 1255$ .

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

Forex analysis

Usd/Jpy trading at 112.86 , it covered smartly on good rise of dow jones and dollar index . A good hurdle on technical chart stands at 113.20 , once traders cut through this level and hold above our resistance , Then expect good rise in this major forex pair upto 113.55 – 113.90 .

A good base level on technical chart stands at 112.45 , if traders cut through this base and manage to hold this currency pair below 112.45 , then expect pressure in this forex pair upto 112.05 – 111.70 today .

Usd/Jpy trend is positive for now .

Eur/Usd trading at 1.1864 , its trading lower as dollar advances against all major currencies . A good hurdle on chart stands at 1.1905 . Once traders cut through this hurdle and manage to hold above our resistance . Then expect more firepower in this major forex pair upto 1.1960 – 1.1999 today .

A good base on daily chart stands at 1.1840 , once traders breaks this base and manage to hold price below our support . Then expect more pressure on eur/usd upto 1.1800 – 1.1750 .

Eur/usd trend is weak for now .

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