Gold and forex analysis 05th December 2017

By | December 5, 2017

Gold analysis

Comex gold price trading at 1275$ , last night it tested 1270$ and now flirting with 1275$ . Xauusd prices could not break 1270$ as US factory orders came worse than expectations . A good support on daily chart stands at 1267$ , if traders breaks this major base and manage to hold below this key level . Then expect more pressure on this precious metal upto 1260$ – 1254$ .

A good hurdle on daily chart stands at 1286$ , if traders take this hurdle out and manage to hold price above our resistance , then expect good recovery upto 1292$ – 1299$ today .

Gold analysis conclusion : Gold trend is flat for now , we have ISM non manufacturing data from US which is crucial for further trend , keep an eye on the event .

Forex analysis

Eur/Usd trading at 1.1871 , it tested 1.1829 yesterday as dollar tried to break below 1.1800 , a good base level on this major forex chart stands at 1.1800 . If traders take this base out and manage to hold below our support today . Then expect more pressure on this currency pair upto 1.1750 – 1.1700 .

A good hurdle on daily chart stands at 1.1920 , once traders take this hurdle out and hold price above this resistance . Then expect good firepower in this forex pair upto 1.1980 – 1.2030 .

Eur/usd trend is flat to positive for now .

Usd/Jpy trading at 112.60 , it crashed from 113.08 to 113.40 we enjoyed this crash as our sell signal initiated at 112.87 . A good base level on this major fx chart stands at 112.30 . If traders break this key level and manage to hold price below this level . Then expect more pressure in this currency pair upto 112 – 111.70 .

A good hurdle on daily chart stands at 113 , if traders take this hurdle out and manage to hold price above this key level . Then expect good firepower in this forex pair upto 113.40 – 113.80 .

Usd/Jpy trend is flat for now , watch key levels to take any fresh trade .

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